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Aspen Tech (NASDAQ:AZPN) Rating Increased to “Mkt Outperform” at Avondale Partners from “Mkt Underperform”

NewYork Aspen Tech NASDAQ:AZPN

Aspen Tech (NASDAQ:AZPN) Change of Rating

In an analyst note sent to clients and investors on Friday morning, stock analysts at Avondale Partners’s equities division upgraded Aspen Tech (NASDAQ:AZPN)’s stock from “Mkt Underperform” to “Mkt Outperform”.

According to data compiled by Thomson Reuters, Aspen Tech (NASDAQ:AZPN)’s stock is covered by 5 equity analysts across the Street, with 0 analysts giving it a Sell rating, 2 a Buy rating, while 3 consider it a Hold. The 12-month consensus target price for the stock is $38.2, which reflects an downside potential of 28.49% over the current price.


Institutional Ownership

Bluespruce Investments Lp had the most significant stake with ownership of 674,288 shares as of q2 2015 for 12.44% of the US equity exposure. Hmi Capital Llc is another bull as the investment professional who is possessing 1.04M shares of Aspen Tech or 8.12% of their US equity exposure. Furthermore, Two Creeks Capital Management Lp have 5.92% of their US equity exposure invested in the company for 2.06M shares. The Michigan-based fund Provident Investment Management Inc. disclosed it had purchased a stake worth about 4.69% of the investment professional’s stock portfolio in Aspen Tech. The Florida-based fund Rgm Capital Llc is also positive about the stock, possessing 482,513 shares or 2.53% of their US equity exposure.

Aspen Tech (NASDAQ:AZPN) Profile

Aspen Technology IncAspen Technology, Inc. is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries. It operates through two segments, including subscription and software, which provides licensing of process optimization software solutions and associated support services, and services, which includes professional services and training.

Aspen Tech (NASDAQ:AZPN) traded down -4.76% on 27 January, hitting $53.42. A total of 516,988 shares of the company’s stock traded hands. This is down from average of 569,957 shares. Aspen Tech has a 52 week low of $29.25 and a 52 week high of $56.64. The company has a market cap of $4.10 billion and a P/E ratio of 30.96.

Get the latest Aspen Tech (NASDAQ:AZPN) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Aspen Tech (NASDAQ:AZPN) Rating Increased to “Mkt Outperform” at Avondale Partners from “Mkt Underperform” appeared first on Octafinance.



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Aspen Tech (NASDAQ:AZPN) Rating Increased to “Mkt Outperform” at Avondale Partners from “Mkt Underperform”

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