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

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

A number of other analysts have also recently weighed in on the stock. Robert W. Baird reissued a “neutral” rating and set a $265.00 target price (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. 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 report on Monday, January 27th. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $265.00 to $315.00 in a report on Monday, February 10th. Baird R W cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Finally, Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $272.00.

Aspen Technology Price Performance

AZPN opened at $265.25 on Wednesday. The stock has a market capitalization of $16.79 billion, a PE ratio of 3,316.04, a P/E/G ratio of 3.00 and a beta of 0.76. The firm’s fifty day moving average price is $257.89 and its 200 day moving average price is $243.82. 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 results 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%. On average, equities research analysts forecast that Aspen Technology will post 6.7 earnings per share for the current fiscal year.

Institutional Trading of Aspen Technology

A number of large investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Aspen Technology in the 4th quarter worth about $1,065,000. ABLE Financial Group LLC grew its position in Aspen Technology by 14.0% in the 4th quarter. ABLE Financial Group LLC now owns 7,318 shares of the technology company’s stock valued at $1,827,000 after buying an additional 896 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in Aspen Technology in the 4th quarter valued at about $1,248,000. Forum Financial Management LP grew its position in Aspen Technology by 114.3% in the 4th quarter. Forum Financial Management LP now owns 1,862 shares of the technology company’s stock valued at $465,000 after buying an additional 993 shares in the last quarter. Finally, Alpine Global Management LLC bought a new position in Aspen Technology in the 4th quarter valued at about $1,722,000. 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.