Aspen Technology (NASDAQ:AZPN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report sent to investors on Tuesday morning. The firm issued a hold rating on the technology company’s stock.

Other research analysts have also recently issued reports about the stock. Piper Sandler increased their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $265.00 to $315.00 in a research report on Monday, February 10th. Finally, Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Aspen Technology has an average rating of “Hold” and a consensus target price of $272.00.

Aspen Technology Trading Down 0.2 %

Aspen Technology stock opened at $264.00 on Tuesday. The stock has a 50 day moving average of $256.40 and a two-hundred day moving average of $241.45. Aspen Technology has a twelve month low of $171.25 and a twelve month high of $277.37. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 3,300.41, a PEG ratio of 3.02 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results 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%. Equities analysts predict that Aspen Technology will post 6.7 earnings per share for the current year.

Institutional Trading of Aspen Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning lifted its stake in Aspen Technology by 34.1% in the 3rd quarter. Creative Planning now owns 1,835 shares of the technology company’s stock valued at $438,000 after buying an additional 467 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Aspen Technology by 5.9% during the third quarter. Raymond James & Associates now owns 281,961 shares of the technology company’s stock valued at $67,338,000 after buying an additional 15,744 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Aspen Technology by 193.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 548 shares of the technology company’s stock worth $131,000 after acquiring an additional 361 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Aspen Technology in the 3rd quarter valued at $290,880,000. Finally, IFM Investors Pty Ltd lifted its stake in shares of Aspen Technology by 6.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 6,165 shares of the technology company’s stock worth $1,472,000 after purchasing an additional 377 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

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.