Aspen Technology (NASDAQ:AZPN) Stock Rating Upgraded by Loop Capital

Aspen Technology (NASDAQ:AZPN) was upgraded by equities research analysts at Loop Capital from a “hold” rating to a “buy” rating in a report issued on Monday,Finviz reports. The brokerage presently has a $315.00 price target on the technology company’s stock, up from their previous price target of $265.00. Loop Capital’s price target would indicate a potential upside of 14.63% from the company’s current price.

Other equities research analysts have also issued reports about the company. Robert W. Baird restated a “neutral” rating and issued a $265.00 price target (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Piper Sandler boosted 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. StockNews.com assumed coverage on shares of Aspen Technology in a report on Monday. They set a “hold” rating for the company. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Baird R W cut 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $272.00.

Aspen Technology Trading Up 3.5 %

Shares of AZPN opened at $274.80 on Monday. The firm has a market cap of $17.40 billion, a P/E ratio of 3,435.43, a PEG ratio of 3.03 and a beta of 0.76. The stock’s 50 day moving average is $253.88 and its two-hundred day moving average is $237.32. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $277.37.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 EPS 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%. Equities research analysts forecast that Aspen Technology will post 6.68 EPS for the current year.

Hedge Funds Weigh In On Aspen Technology

Several institutional investors have recently modified their holdings of AZPN. SBI Securities Co. Ltd. acquired a new stake in Aspen Technology in the fourth quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Aspen Technology in the 3rd quarter valued at $48,000. Jones Financial Companies Lllp raised its holdings in shares of Aspen Technology by 965.0% in the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after purchasing an additional 193 shares in the last quarter. Blue Trust Inc. lifted its position 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 last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after purchasing an additional 58 shares in 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.