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 note issued to investors on Monday morning, Marketbeat reports. The firm currently has $315.00 price target on the technology company’s stock, up from their previous price target of $265.00.

Several other analysts also recently commented on AZPN. StockNews.com began coverage on shares of Aspen Technology in a research report on Monday. They issued a “hold” rating for the company. Piper Sandler upped their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Finally, Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $272.00.

Aspen Technology Trading Down 0.1 %

NASDAQ AZPN opened at $265.10 on Monday. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $277.37. The firm’s fifty day simple moving average is $254.85 and its 200-day simple moving average is $238.54. The company has a market capitalization of $16.78 billion, a PE ratio of 3,314.16, a price-to-earnings-growth ratio of 3.03 and a beta of 0.76.

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

Hedge Funds Weigh In On Aspen Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings 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 valued at $86,799,000 after acquiring an additional 171,351 shares during the period. Brown Brothers Harriman & Co. boosted its stake 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 worth $39,728,000 after purchasing an additional 39,396 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Aspen Technology by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock valued at $40,082,000 after buying an additional 10,327 shares during the last quarter. Citigroup Inc. increased its position in Aspen Technology by 15.9% in the 3rd quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock valued at $5,550,000 after acquiring an additional 3,186 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake 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 valued at $158,318,000 after purchasing an additional 632,545 shares during the last quarter. 45.66% of the stock is owned by institutional investors.

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.