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

StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note issued to investors on Friday. The brokerage issued a hold rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler increased their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the company from $265.00 to $315.00 in a report on Monday, February 10th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a report 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $272.00.

Aspen Technology Stock Performance

Aspen Technology stock opened at $264.33 on Friday. The stock’s fifty day simple moving average is $261.08 and its 200-day simple moving average is $247.69. The firm has a market capitalization of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology has a twelve month low of $171.25 and a twelve month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Sell-side analysts predict that Aspen Technology will post 6.7 earnings per share for the current year.

Institutional Investors Weigh In On Aspen Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bailard Inc. increased its stake in Aspen Technology by 0.9% during the 4th quarter. Bailard Inc. now owns 4,541 shares of the technology company’s stock worth $1,134,000 after buying an additional 41 shares during the period. Net Worth Advisory Group increased its position in shares of Aspen Technology by 1.0% in the 4th quarter. Net Worth Advisory Group now owns 4,197 shares of the technology company’s stock worth $1,048,000 after purchasing an additional 41 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Aspen Technology by 29.7% in the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock worth $48,000 after purchasing an additional 44 shares during the last quarter. Commerce Bank increased its position in shares of Aspen Technology by 3.1% in the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after purchasing an additional 47 shares during the last quarter. Finally, Heritage Family Offices LLP increased its position in shares of Aspen Technology by 2.8% in the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other 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.