Aspen Technology (NASDAQ:AZPN) Coverage Initiated by Analysts at StockNews.com

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

AZPN has been the subject of several other reports. Piper Sandler boosted their target price on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Robert W. Baird restated a “neutral” rating and issued a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $272.00.

Aspen Technology Stock Performance

Shares of AZPN stock opened at $264.33 on Friday. The firm has a market capitalization of $16.73 billion, a P/E ratio of 3,304.54, a PEG ratio of 3.00 and a beta of 0.73. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $277.37. The stock’s fifty day moving average is $262.67 and its two-hundred day moving average is $249.57.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. On average, equities analysts forecast that Aspen Technology will post 6.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in shares of Aspen Technology by 10.4% during the third quarter. Victory Capital Management Inc. now owns 10,652 shares of the technology company’s stock worth $2,544,000 after buying an additional 1,000 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Aspen Technology in the third quarter valued at about $1,100,000. Commerce Bank lifted its position in Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock worth $370,000 after acquiring an additional 47 shares in the last quarter. Landscape Capital Management L.L.C. lifted its position in shares of Aspen Technology by 13.4% during the third quarter. Landscape Capital Management L.L.C. now owns 2,085 shares of the technology company’s stock worth $498,000 after purchasing an additional 247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Aspen Technology by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock worth $40,082,000 after buying an additional 10,327 shares in the last quarter. 45.66% of the stock is currently 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.