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

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

AZPN has been the topic 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. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Robert W. Baird reaffirmed a "neutral" rating and set a $265.00 price target (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Baird R W cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 27th. Finally, Loop Capital raised Aspen Technology from a "hold" rating to a "buy" rating and lifted their price target for the stock from $265.00 to $315.00 in a research report on Monday, February 10th. Six equities 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 company currently has a consensus rating of "Hold" and an average target price of $272.00.

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Aspen Technology Stock Performance

AZPN stock traded up $0.24 on Thursday, hitting $265.25. 673,308 shares of the company's stock were exchanged, compared to its average volume of 631,907. Aspen Technology has a 12-month low of $171.25 and a 12-month high of $277.37. The firm has a 50 day moving average price of $259.62 and a two-hundred day moving average price of $246.24. The stock has a market cap of $16.79 billion, a P/E ratio of 3,316.04, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share 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%. Sell-side analysts expect that Aspen Technology will post 6.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Aspen Technology by 89.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company's stock valued at $86,799,000 after buying an additional 171,351 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of Aspen Technology by 31.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company's stock valued at $39,728,000 after buying an additional 39,396 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $40,082,000 after buying an additional 10,327 shares during the period. Citigroup Inc. lifted its holdings in shares of Aspen Technology by 15.9% in the 3rd quarter. Citigroup Inc. now owns 23,240 shares of the technology company's stock valued at $5,550,000 after buying an additional 3,186 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of 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 period. Institutional investors and hedge funds own 45.66% of the company's stock.

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.