StockNews.com Initiates Coverage on Aspen Technology (NASDAQ:AZPN)

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN - Free Report) in a research note issued to investors on Friday morning. The firm issued a hold rating on the technology company's stock.

Several other research analysts have also recently weighed in on the stock. 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. Piper Sandler boosted their price target on Aspen Technology from $240.00 to $265.00 and gave the company a "neutral" 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, Loop Capital upgraded 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 report on Monday, February 10th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $272.00.

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Aspen Technology Price Performance

Aspen Technology stock remained flat at $264.33 during mid-day trading on Friday. Aspen Technology has a twelve month low of $171.25 and a twelve month high of $277.37. The company's 50 day moving average price is $261.08 and its 200-day moving average price is $248.12. The stock has a market cap of $16.73 billion, a price-to-earnings ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 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%. As a group, sell-side analysts predict that Aspen Technology will post 6.7 EPS for the current year.

Institutional Investors Weigh In On Aspen Technology

Institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Aspen Technology by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company's stock worth $42,524,000 after acquiring an additional 2,518 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company's stock valued at $86,799,000 after purchasing an additional 171,351 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in shares of Aspen Technology by 31.0% during the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company's stock valued at $39,728,000 after purchasing an additional 39,396 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Aspen Technology by 15.9% in the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company's stock worth $5,550,000 after purchasing an additional 3,186 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Aspen Technology by 37,990.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company's stock worth $158,318,000 after buying an additional 632,545 shares in the last quarter. 45.66% of the stock is owned by hedge funds and other institutional investors.

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.