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 research report report published on Friday morning, MarketBeat Ratings reports. Berenberg Bank currently has $255.00 price objective on the technology company’s stock, up from their prior price objective of $185.00.

Other analysts have also issued research reports about the stock. Piper Sandler reduced their price target on shares of Aspen Technology from $196.00 to $180.00 and set a neutral rating on the stock in a research report on Wednesday, May 8th. Robert W. Baird lifted their target price on shares of Aspen Technology from $210.00 to $230.00 and gave the company an outperform rating in a report on Wednesday, May 15th. William Blair upgraded shares of Aspen Technology to a hold rating in a report on Tuesday, May 7th. Finally, StockNews.com upgraded shares of Aspen Technology from a sell rating to a hold rating in a report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $219.50.

View Our Latest Report on AZPN

Aspen Technology Stock Performance

AZPN stock opened at $221.14 on Friday. The firm has a market cap of $14.00 billion, a PE ratio of -502.58, a PEG ratio of 2.81 and a beta of 0.76. The firm’s 50 day moving average price is $204.77 and its 200-day moving average price is $198.62. Aspen Technology has a one year low of $161.32 and a one year high of $224.77.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Treasurer of the State of North Carolina increased its stake in shares of Aspen Technology by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 12,254 shares of the technology company’s stock worth $2,503,000 after acquiring an additional 60 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Aspen Technology by 3.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,864 shares of the technology company’s stock worth $410,000 after buying an additional 63 shares during the period. Assenagon Asset Management S.A. grew its position in Aspen Technology by 4.5% during the first quarter. Assenagon Asset Management S.A. now owns 1,476 shares of the technology company’s stock worth $315,000 after buying an additional 64 shares during the period. PNC Financial Services Group Inc. grew its position in Aspen Technology by 4.3% during the third quarter. PNC Financial Services Group Inc. now owns 1,592 shares of the technology company’s stock worth $325,000 after buying an additional 66 shares during the period. Finally, SkyView Investment Advisors LLC grew its position in Aspen Technology by 2.6% during the third quarter. SkyView Investment Advisors LLC now owns 2,778 shares of the technology company’s stock worth $567,000 after buying an additional 70 shares during the period. 45.66% of the stock is currently owned by institutional investors and hedge funds.

About Aspen Technology

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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.

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