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

Equities researchers at StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN - Get Free Report) in a research report issued on Wednesday. The brokerage set a "hold" rating on the technology company's stock.

Several other equities research analysts have also recently issued reports on the company. Piper Sandler boosted their price target on Aspen Technology from $240.00 to $265.00 and gave the company 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 note on Thursday, November 7th. Loop Capital upgraded shares of Aspen Technology from a "hold" rating to a "buy" rating and boosted their price objective for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Baird R W downgraded shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 27th. Finally, Robert W. Baird restated a "neutral" rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Aspen Technology currently has a consensus rating of "Hold" and a consensus target price of $272.00.

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Aspen Technology Trading Up 0.4 %

Shares of NASDAQ:AZPN traded up $1.16 during trading on Wednesday, reaching $265.25. 573,632 shares of the stock were exchanged, compared to its average volume of 638,083. The firm has a market cap of $16.79 billion, a PE ratio of 3,316.04, a PEG ratio of 3.00 and a beta of 0.76. The stock has a 50-day moving average price of $258.18 and a 200-day moving average price of $244.21. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $277.37.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued 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 return on equity of 3.17% and a net margin of 0.54%. On average, sell-side analysts expect that Aspen Technology will post 6.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Aspen Technology during the fourth quarter worth $26,000. Atala Financial Inc acquired a new position in shares of Aspen Technology during the fourth quarter worth $44,000. Bessemer Group Inc. increased its holdings in shares of Aspen Technology by 29.7% during the fourth quarter. Bessemer Group Inc. now owns 192 shares of the technology company's stock worth $48,000 after buying an additional 44 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Aspen Technology by 965.0% during the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company's stock worth $53,000 after buying an additional 193 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Aspen Technology by 5,700.0% during the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company's stock worth $58,000 after buying an additional 228 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors and hedge funds.

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.