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

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

Other analysts have also recently issued research reports about the stock. 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 note on Monday, January 27th. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Piper Sandler upped their target price on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and upped their price objective for the company from $265.00 to $315.00 in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $264.78 on Tuesday. The business has a 50 day simple moving average of $255.65 and a two-hundred day simple moving average of $240.54. The stock has a market capitalization of $16.76 billion, a P/E ratio of 3,310.16, a PEG ratio of 3.03 and a beta of 0.76. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Aspen Technology will post 6.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

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

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.