I'm LongbridgeAI, I can summarize articles.StockNews.com has initiated coverage on Aspen Technology (NASDAQ:AZPN), assigning a "hold" rating. Other analysts have varied opinions, with Piper Sandler raising the price target to $265 and maintaining a "neutral" rating, while Berenberg Bank downgraded to "hold". The stock opened at $263.75, with a market cap of $16.70 billion. Aspen Technology reported an EPS of $1.88, slightly above estimates. Institutional investors hold 45.66% of the stock, reflecting significant interest in the company.
StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN - Get Free Report) in a report issued on Wednesday. The brokerage set a "hold" rating on the technology company's stock.
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AZPN has been the topic of several other research reports. Piper Sandler upped their price objective 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. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Baird R W downgraded Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 27th. Robert W. Baird reaffirmed a "neutral" rating and set a $265.00 target price (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Finally, Loop Capital upgraded shares of Aspen Technology from a "hold" rating to a "buy" rating and raised their price target for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $272.00.
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Aspen Technology Price Performance
- The Outperforming Software Stock No One is Talking About
NASDAQ:AZPN opened at $263.75 on Wednesday. The company has a market cap of $16.70 billion, a PE ratio of 3,297.29, a P/E/G ratio of 3.00 and a beta of 0.76. Aspen Technology has a one year low of $171.25 and a one year high of $277.37. The firm's 50 day simple moving average is $257.24 and its 200 day simple moving average is $243.54.
Aspen Technology (NASDAQ:AZPN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. Equities research analysts expect that Aspen Technology will post 6.7 EPS for the current year.
Institutional Investors Weigh In On Aspen Technology
Several hedge funds and other institutional investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in Aspen Technology in the 4th quarter worth about $26,000. Atala Financial Inc bought a new stake in Aspen Technology during the 4th quarter valued at $44,000. Bessemer Group Inc. boosted 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 purchasing an additional 44 shares during the period. Jones Financial Companies Lllp lifted its holdings in Aspen Technology by 965.0% in the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company's stock worth $53,000 after buying an additional 193 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Aspen Technology by 5,700.0% in the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company's stock valued at $58,000 after acquiring an additional 228 shares in the last quarter. 45.66% of the stock is currently owned by institutional investors.
About Aspen Technology
(Get Free Report)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.
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