Aspen Technology (NASDAQ:AZPN) Lifted to Hold at StockNews.com

Aspen Technology (NASDAQ:AZPN) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research firms have also recently weighed in on AZPN. KeyCorp reiterated a “sector weight” rating on shares of Aspen Technology in a research report on Wednesday, July 26th. Piper Sandler reiterated a “neutral” rating and set a $180.00 price objective on shares of Aspen Technology in a research report on Tuesday, November 7th. Robert W. Baird upgraded shares of Aspen Technology from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $194.00 to $202.00 in a research report on Tuesday. Finally, Loop Capital boosted their price objective on shares of Aspen Technology from $170.00 to $180.00 in a research report on Wednesday, August 2nd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $200.40.

Aspen Technology Stock Performance

AZPN stock opened at $183.66 on Friday. The firm has a fifty day moving average price of $189.95 and a 200 day moving average price of $180.78. The firm has a market cap of $11.70 billion, a PE ratio of -90.47, a price-to-earnings-growth ratio of 1.81 and a beta of 0.80. Aspen Technology has a fifty-two week low of $161.32 and a fifty-two week high of $248.35.

Institutional Trading of Aspen Technology

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Aspen Technology by 19.5% in the first quarter. Wellington Management Group LLP now owns 256,063 shares of the technology company’s stock worth $58,605,000 after acquiring an additional 41,811 shares during the period. New Mexico Educational Retirement Board lifted its position in shares of Aspen Technology by 13.4% during the second quarter. New Mexico Educational Retirement Board now owns 5,922 shares of the technology company’s stock valued at $993,000 after buying an additional 700 shares during the last quarter. Achmea Investment Management B.V. purchased a new stake in shares of Aspen Technology during the second quarter valued at about $26,000. Truist Financial Corp lifted its position in shares of Aspen Technology by 52.9% during the first quarter. Truist Financial Corp now owns 31,865 shares of the technology company’s stock valued at $7,293,000 after buying an additional 11,021 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Aspen Technology by 1.4% during the first quarter. Stephens Investment Management Group LLC now owns 170,300 shares of the technology company’s stock valued at $38,977,000 after buying an additional 2,282 shares during the last quarter. 43.94% of the stock is owned by hedge funds and other 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.