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

StockNews.com initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a report published on Friday. The brokerage issued a hold rating on the technology company’s stock.

Several other research analysts have also weighed in on AZPN. Robert W. Baird reissued a “neutral” rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $265.00 to $315.00 in a report on Monday, February 10th. Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Finally, Piper Sandler raised their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Aspen Technology presently has an average rating of “Hold” and an average target price of $272.00.

Aspen Technology Price Performance

Shares of AZPN stock opened at $264.33 on Friday. The firm has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $277.37. The firm has a fifty day moving average of $264.38 and a two-hundred day moving average of $257.16.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AZPN. SBI Securities Co. Ltd. bought a new position in shares of Aspen Technology in the 4th quarter worth about $26,000. Atala Financial Inc bought a new stake in Aspen Technology in the 4th quarter valued at about $44,000. Bessemer Group Inc. lifted its position in Aspen Technology by 29.7% in the 4th quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock valued at $48,000 after purchasing an additional 44 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Aspen Technology by 965.0% in the 4th quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock valued at $53,000 after purchasing an additional 193 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Aspen Technology by 5,700.0% in the 4th quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock valued at $58,000 after purchasing an additional 228 shares during the last quarter. 45.66% of the stock is currently owned by 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.