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

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

A number of other equities research analysts have also recently commented on AZPN. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Piper Sandler boosted their target price on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Finally, Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Aspen Technology currently has an average rating of “Hold” and a consensus target price of $276.25.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $264.33 on Friday. The business has a fifty day moving average price of $264.34 and a 200 day moving average price of $257.91. The company 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 one year low of $171.25 and a one year high of $277.37.

Hedge Funds Weigh In On Aspen Technology

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Aspen Technology by 15.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,519 shares of the technology company’s stock valued at $379,000 after buying an additional 207 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Aspen Technology during the fourth quarter worth $2,740,000. Siemens Fonds Invest GmbH purchased a new stake in Aspen Technology in the fourth quarter valued at $2,728,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Aspen Technology in the 4th quarter valued at $1,065,000. Finally, ABLE Financial Group LLC grew its holdings in shares of Aspen Technology by 14.0% during the 4th quarter. ABLE Financial Group LLC now owns 7,318 shares of the technology company’s stock worth $1,827,000 after purchasing an additional 896 shares during the period. 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.