Aspen Technology (NASDAQ:AZPN) Upgraded at Loop Capital

Loop Capital upgraded shares of Aspen Technology (NASDAQ:AZPN) from a hold rating to a buy rating in a research report released on Monday, Marketbeat reports. Loop Capital currently has $315.00 price target on the technology company’s stock, up from their prior price target of $265.00.

Several other analysts have also weighed in on the company. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird restated a “neutral” rating and issued a $265.00 price target (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Piper Sandler increased their price target on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, StockNews.com assumed coverage on Aspen Technology in a research report on Monday. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $272.00.

Aspen Technology Stock Down 0.1 %

Shares of NASDAQ:AZPN opened at $265.10 on Monday. The company has a market capitalization of $16.78 billion, a price-to-earnings ratio of 3,314.16, a price-to-earnings-growth ratio of 3.03 and a beta of 0.76. The company has a 50 day moving average of $254.85 and a two-hundred day moving average of $238.54. Aspen Technology has a 52-week low of $171.25 and a 52-week high of $277.37.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS 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%. On average, equities analysts anticipate that Aspen Technology will post 6.68 earnings per share for the current year.

Hedge Funds Weigh In On Aspen Technology

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in shares of Aspen Technology by 2,272.7% during the 4th quarter. Franklin Resources Inc. now owns 690,940 shares of the technology company’s stock valued at $172,479,000 after acquiring an additional 661,820 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Aspen Technology by 37,990.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after buying an additional 632,545 shares during the period. Norges Bank purchased a new stake in Aspen Technology during the fourth quarter valued at about $70,813,000. Raymond James Financial Inc. purchased a new position in shares of Aspen Technology in the fourth quarter worth approximately $66,680,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Aspen Technology by 89.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after acquiring an additional 171,351 shares in the last quarter. Institutional investors 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.