Aspen Technology (NASDAQ:AZPN) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Aspen Technology (NASDAQ:AZPN – Get Rating) in a research note published on Thursday. The firm issued a hold rating on the technology company’s stock.

Several other equities analysts have also weighed in on AZPN. Piper Sandler cut their target price on Aspen Technology from $240.00 to $195.00 and set a neutral rating on the stock in a report on Thursday, January 26th. Robert W. Baird dropped their price objective on Aspen Technology from $224.00 to $202.00 and set a neutral rating on the stock in a research note on Thursday, January 26th. Loop Capital decreased their target price on Aspen Technology from $270.00 to $240.00 in a research report on Thursday, April 27th. KeyCorp decreased their target price on Aspen Technology from $260.00 to $230.00 and set an overweight rating on the stock in a research report on Thursday, April 27th. Finally, William Blair downgraded Aspen Technology from an outperform rating to a market perform rating in a research report on Thursday, April 27th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Aspen Technology currently has an average rating of Hold and an average price target of $217.83.

Aspen Technology Trading Up 0.0 %

Shares of NASDAQ:AZPN opened at $169.11 on Thursday. Aspen Technology has a 1 year low of $161.40 and a 1 year high of $263.59. The business has a fifty day simple moving average of $204.69 and a 200 day simple moving average of $211.08. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of -178.01, a P/E/G ratio of 2.32 and a beta of 0.94.

Institutional Trading of Aspen Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue raised its position in shares of Aspen Technology by 1.2% during the 4th quarter. State of Alaska Department of Revenue now owns 4,062 shares of the technology company’s stock valued at $834,000 after acquiring an additional 50 shares during the last quarter. Heritage Wealth Management LLC increased its position in shares of Aspen Technology by 4.1% in the 3rd quarter. Heritage Wealth Management LLC now owns 1,449 shares of the technology company’s stock valued at $345,000 after buying an additional 57 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Aspen Technology by 3.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,610 shares of the technology company’s stock valued at $331,000 after buying an additional 57 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Aspen Technology by 0.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 17,358 shares of the technology company’s stock valued at $3,565,000 after buying an additional 57 shares in the last quarter. Finally, First Manhattan Co. increased its position in shares of Aspen Technology by 4.4% in the 4th quarter. First Manhattan Co. now owns 1,338 shares of the technology company’s stock valued at $275,000 after buying an additional 57 shares in the last quarter. Institutional investors own 44.40% of the company’s stock.

About Aspen Technology

(Get Rating)

Aspen Technology together with its subsidiaries develops and supplies integrated software and services that enable the process industries to design, operate, manage, and optimize their business processes. Its software applications utilize proprietary empirical models of chemical manufacturing processes to enhance plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization, and operational performance.