Aspen Technology (NASDAQ:AZPN) Now Covered by StockNews.com

StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report released on Saturday. The firm issued a hold rating on the technology company’s stock.

A number of other analysts have also issued reports on AZPN. Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their price target for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Robert W. Baird reiterated a “neutral” rating and set a $265.00 price target (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Finally, Piper Sandler boosted 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. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Stock Performance

AZPN opened at $264.33 on Friday. Aspen Technology has a one year low of $171.25 and a one year high of $277.37. The stock 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. The business’s 50 day moving average price is $262.36 and its 200 day moving average price is $249.17.

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

Hedge Funds Weigh In On Aspen Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Aspen Technology by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock worth $42,524,000 after buying an additional 2,518 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Aspen Technology by 89.2% during the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after buying an additional 171,351 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in Aspen Technology by 31.0% in the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock valued at $39,728,000 after purchasing an additional 39,396 shares in the last quarter. Citigroup Inc. boosted its holdings in Aspen Technology by 15.9% in the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock valued at $5,550,000 after purchasing an additional 3,186 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after purchasing an additional 632,545 shares in the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

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.