StockNews.com Begins Coverage on Aspen Technology (NASDAQ:AZPN)

Analysts at StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the technology company’s stock.

Several other analysts have also commented on AZPN. Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler raised their target price on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and upped their price target for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Stock Down 0.1 %

Shares of NASDAQ AZPN opened at $264.59 on Tuesday. The company has a market capitalization of $16.75 billion, a PE ratio of 3,307.79, a PEG ratio of 3.01 and a beta of 0.76. The stock’s 50 day moving average price is $256.14 and its 200-day moving average price is $241.29. Aspen Technology has a twelve month low of $171.25 and a twelve month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. As a group, research analysts expect that Aspen Technology will post 6.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

A number of large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in Aspen Technology in the 4th quarter worth approximately $26,000. Atala Financial Inc bought a new position in shares of Aspen Technology in the fourth quarter worth $44,000. Bessemer Group Inc. raised its position in shares of Aspen Technology by 29.7% in the fourth quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock worth $48,000 after buying an additional 44 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Aspen Technology by 965.0% during the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after buying an additional 193 shares during the period. Finally, Blue Trust Inc. boosted its stake in Aspen Technology by 5,700.0% during the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after buying an additional 228 shares during the period. 45.66% of the stock is currently owned by institutional investors.

About Aspen Technology

Aspen Technology, Inc provides industrial software that focuses on helping customers in asset-intensive industries worldwide. The company’s solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. Its software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management, and industrial data management.