Aspen Technology (NASDAQ:AZPN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research note published on Sunday morning. The firm issued a hold rating on the technology company’s stock.

Several other brokerages have also issued reports on AZPN. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Finally, Piper Sandler increased their target price on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $261.00.

Aspen Technology Stock Down 0.1 %

Shares of Aspen Technology stock opened at $263.97 on Friday. The stock has a market cap of $16.70 billion, a PE ratio of -455.12, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $265.05. The business has a fifty day simple moving average of $252.77 and a 200-day simple moving average of $235.65.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Analysts expect that Aspen Technology will post 6.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in Aspen Technology by 37,990.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock valued at $158,318,000 after buying an additional 632,545 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Aspen Technology by 5.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock worth $139,156,000 after acquiring an additional 28,820 shares during the last quarter. JPMorgan Chase & Co. increased its position in 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 acquiring an additional 171,351 shares during the period. Raymond James & Associates increased its position in Aspen Technology by 5.9% during the third quarter. Raymond James & Associates now owns 281,961 shares of the technology company’s stock worth $67,338,000 after acquiring an additional 15,744 shares during the period. Finally, Stephens Investment Management Group LLC raised its stake in Aspen Technology by 0.3% during the 3rd quarter. Stephens Investment Management Group LLC now owns 251,257 shares of the technology company’s stock valued at $60,005,000 after purchasing an additional 677 shares during the last quarter. Institutional investors and hedge funds 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.