Aspen Technology (NASDAQ:AZPN) Now Covered by Analysts at StockNews.com

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

Several other research analysts also recently weighed in on AZPN. William Blair downgraded Aspen Technology from an outperform rating to a market perform rating in a research note on Thursday, April 27th. Piper Sandler reduced their price objective on Aspen Technology from $240.00 to $195.00 and set a neutral rating for the company in a report on Thursday, January 26th. Robert W. Baird dropped their price target on Aspen Technology from $224.00 to $202.00 and set a neutral rating for the company in a research report on Thursday, January 26th. KeyCorp dropped their price target on Aspen Technology from $260.00 to $230.00 and set an overweight rating for the company in a research report on Thursday, April 27th. Finally, Loop Capital lowered their price objective on Aspen Technology from $270.00 to $240.00 in a research report on Thursday, April 27th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $217.83.

Aspen Technology Trading Up 0.0 %

Shares of AZPN stock opened at $169.11 on Thursday. The business’s 50 day moving average is $204.69 and its two-hundred day moving average is $211.08. Aspen Technology has a twelve month low of $161.40 and a twelve month high of $263.59. The company has a market capitalization of $10.97 billion, a P/E ratio of -178.01, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94.

Institutional Investors Weigh In On Aspen Technology

Institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Aspen Technology during the first quarter valued at about $29,000. Compass Wealth Management LLC acquired a new position in shares of Aspen Technology during the fourth quarter worth about $29,000. Signaturefd LLC lifted its stake in shares of Aspen Technology by 243.5% during the fourth quarter. Signaturefd LLC now owns 158 shares of the technology company’s stock worth $32,000 after purchasing an additional 112 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in shares of Aspen Technology by 88.0% during the first quarter. Belpointe Asset Management LLC now owns 141 shares of the technology company’s stock worth $32,000 after purchasing an additional 66 shares in the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new position in shares of Aspen Technology in the third quarter worth about $33,000. Hedge funds and other institutional investors own 44.40% of the company’s stock.

About Aspen Technology

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Aspen Technology together with its subsidiaries develops and supplies integrated software and services that enable the process industries to design, operate, manage, and optimize their business processes. Its software applications utilize proprietary empirical models of chemical manufacturing processes to enhance plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization, and operational performance.