Aspen Technology (NASDAQ:AZPN) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report issued on Thursday. The firm set a “hold” rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Piper Sandler boosted their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Aspen Technology currently has an average rating of “Hold” and an average target price of $272.00.

Aspen Technology Stock Performance

Aspen Technology stock opened at $264.33 on Thursday. The company has a market capitalization of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $277.37. The stock has a 50-day moving average price of $264.38 and a two-hundred day moving average price of $255.54.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, beating 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, analysts predict that Aspen Technology will post 6.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Aspen Technology in the fourth quarter valued at about $26,000. Atala Financial Inc purchased a new stake in shares of Aspen Technology in the fourth quarter valued at about $44,000. Bessemer Group Inc. raised its holdings 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 valued at $48,000 after purchasing an additional 44 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Aspen Technology by 965.0% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after purchasing an additional 193 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Aspen Technology by 5,700.0% in the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds 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.