Aspen Technology (NASDAQ:AZPN) Downgraded to “Hold” Rating by Loop Capital

Loop Capital downgraded shares of Aspen Technology (NASDAQ:AZPN) from a buy rating to a hold rating in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has $265.00 target price on the technology company’s stock, up from their prior target price of $260.00.

Several other equities research analysts also recently weighed in on AZPN. Robert W. Baird reiterated a “neutral” rating and set a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a research note on Sunday. They set a “hold” rating for the company. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Piper Sandler lifted their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Seven investment 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.com, the stock has an average rating of “Hold” and a consensus price target of $262.00.

Aspen Technology Stock Up 0.5 %

AZPN opened at $265.25 on Wednesday. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $265.25. The business’s 50 day moving average is $253.07 and its two-hundred day moving average is $235.85. The firm has a market cap of $16.78 billion, a price-to-earnings ratio of -457.33, 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 EPS for the quarter, beating 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%. Equities analysts expect that Aspen Technology will post 6.68 EPS for the current fiscal year.

Institutional Trading of Aspen Technology

Several hedge funds have recently modified their holdings of AZPN. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Aspen Technology in the third quarter worth $48,000. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 228 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 58 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Aspen Technology by 126.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock valued at $68,000 after purchasing an additional 151 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in shares of Aspen Technology in the third quarter valued at about $77,000. 45.66% of the stock is 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.