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

StockNews.com started coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note released on Tuesday. The brokerage issued a hold rating on the technology company’s stock.

AZPN has been the topic of several other research reports. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Berenberg Bank downgraded shares of 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 from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Finally, Piper Sandler increased their target price on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $272.00.

Aspen Technology Stock Down 0.2 %

NASDAQ AZPN opened at $264.00 on Tuesday. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $277.37. The business has a 50 day moving average price of $256.40 and a two-hundred day moving average price of $241.45. The stock has a market cap of $16.71 billion, a PE ratio of 3,300.41, a P/E/G ratio of 3.02 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Sell-side analysts anticipate that Aspen Technology will post 6.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

A number of hedge funds have recently added to or reduced their stakes in AZPN. JPMorgan Chase & Co. boosted its position in Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after acquiring an additional 171,351 shares during the period. Brown Brothers Harriman & Co. boosted its stake in shares of Aspen Technology by 31.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock worth $39,728,000 after acquiring an additional 39,396 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Aspen Technology by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock worth $40,082,000 after buying an additional 10,327 shares during the period. Citigroup Inc. lifted its stake in Aspen Technology by 15.9% during the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock valued at $5,550,000 after buying an additional 3,186 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after acquiring an additional 632,545 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Company Profile

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.