Aspen Technology (NASDAQ:AZPN) Stock Rating Lowered by Loop Capital

Aspen Technology (NASDAQ:AZPN) was downgraded by research analysts at Loop Capital from a “buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $265.00 price target on the technology company’s stock, up from their previous price target of $260.00. Loop Capital’s price objective suggests a potential downside of 0.21% from the company’s previous close.

A number of other equities analysts also recently weighed in on AZPN. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Sunday, February 2nd. They set a “hold” rating on 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 research note on Monday, January 27th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $262.00.

Aspen Technology Stock Performance

Shares of NASDAQ AZPN opened at $265.55 on Wednesday. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $265.67. The firm’s 50 day moving average price is $253.07 and its 200 day moving average price is $235.85. The firm has a market cap of $16.80 billion, a P/E ratio of -457.84, a price-to-earnings-growth ratio of 3.00 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. As a group, equities analysts predict that Aspen Technology will post 6.68 EPS for the current year.

Hedge Funds Weigh In On Aspen Technology

Hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in shares of Aspen Technology in the 4th quarter valued at $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Aspen Technology during the 3rd quarter worth $48,000. Jones Financial Companies Lllp increased its stake in Aspen Technology by 965.0% during the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock worth $53,000 after buying an additional 193 shares during the period. Blue Trust Inc. increased its stake in Aspen Technology by 5,700.0% during the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after buying an additional 228 shares during the period. Finally, GAMMA Investing LLC increased its stake in Aspen Technology by 30.1% during the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

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.