Aspen Technology (NASDAQ:AZPN) Downgraded to Hold Rating by Loop Capital

Loop Capital cut shares of Aspen Technology (NASDAQ:AZPN) from a buy rating to a hold rating in a research note issued to investors on Wednesday, MarketBeat reports. They currently have $265.00 price target on the technology company’s stock, up from their previous price target of $260.00.

Other equities research analysts also recently issued reports about the stock. 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 note on Monday, January 27th. Baird R W downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a research note on Sunday. They issued a “hold” rating on the stock. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Piper Sandler increased their price target on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Aspen Technology presently has an average rating of “Hold” and an average target price of $262.00.

Aspen Technology Stock Up 0.5 %

AZPN opened at $265.25 on Wednesday. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $265.25. The business has a fifty day simple moving average of $253.07 and a 200-day simple moving average of $235.85. The firm has a market cap of $16.78 billion, a P/E ratio of -457.33, a P/E/G ratio of 3.00 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.03. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Sell-side analysts expect that Aspen Technology will post 6.68 earnings per share for the current year.

Institutional Trading of Aspen Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Aspen Technology in the 3rd quarter valued at about $48,000. Blue Trust Inc. increased its stake 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 purchasing an additional 228 shares during the last quarter. GAMMA Investing LLC raised its holdings in Aspen Technology by 30.1% during the fourth quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after purchasing an additional 58 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Aspen Technology by 126.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock worth $68,000 after buying an additional 151 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Aspen Technology during the 3rd quarter worth approximately $77,000. 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.