Aspen Technology (NASDAQ:AZPN) Lifted to “Buy” at Berenberg Bank

Berenberg Bank upgraded shares of Aspen Technology (NASDAQ:AZPNFree Report) from a hold rating to a buy rating in a report published on Friday morning, MarketBeat.com reports. Berenberg Bank currently has $255.00 price objective on the technology company’s stock, up from their previous price objective of $185.00.

A number of other research firms have also issued reports on AZPN. StockNews.com raised Aspen Technology from a sell rating to a hold rating in a research note on Wednesday, February 7th. Piper Sandler decreased their price objective on Aspen Technology from $196.00 to $180.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Robert W. Baird boosted their target price on shares of Aspen Technology from $210.00 to $230.00 and gave the company an outperform rating in a research note on Wednesday, May 15th. Finally, William Blair raised shares of Aspen Technology to a hold rating in a research note on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aspen Technology presently has a consensus rating of Hold and an average target price of $219.50.

Check Out Our Latest Stock Report on Aspen Technology

Aspen Technology Trading Up 3.8 %

Shares of NASDAQ AZPN opened at $221.94 on Friday. The company’s 50-day moving average price is $204.43 and its 200 day moving average price is $198.27. Aspen Technology has a 52 week low of $161.32 and a 52 week high of $224.77. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of -504.40, a PEG ratio of 2.81 and a beta of 0.76.

Institutional Trading of Aspen Technology

Hedge funds have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. increased its stake in shares of Aspen Technology by 561.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock valued at $48,000 after acquiring an additional 191 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Aspen Technology by 2.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock worth $70,000 after purchasing an additional 735 shares during the last quarter. Fifth Third Bancorp increased its position in Aspen Technology by 94.4% during the third quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock worth $71,000 after purchasing an additional 170 shares during the last quarter. Principal Securities Inc. purchased a new position in Aspen Technology during the fourth quarter worth approximately $73,000. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Aspen Technology by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 400 shares of the technology company’s stock valued at $85,000 after purchasing an additional 200 shares during the last quarter. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Company Profile

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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.

Further Reading

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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