Bank of America Raises Aspen Technology (NASDAQ:AZPN) Price Target to $230.00

Aspen Technology (NASDAQ:AZPN – Get Rating) had its price objective hoisted by Bank of America from $176.00 to $230.00 in a research report issued to clients and investors on Monday, The Fly reports. Bank of America‘s price target points to a potential upside of 14.03% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Monday, May 2nd. StockNews.com began coverage on shares of Aspen Technology in a research report on Saturday. They set a “buy” rating on the stock. Piper Sandler dropped their price target on shares of Aspen Technology from $170.00 to $159.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 17th. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $160.00 to $175.00 in a report on Thursday, March 17th. Finally, TheStreet downgraded Aspen Technology from a “b” rating to a “c+” rating in a research report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Aspen Technology currently has an average rating of “Buy” and a consensus target price of $174.71.

Shares of NASDAQ:AZPN opened at $201.70 on Monday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $170.94 and a 200 day moving average price of $155.57. Aspen Technology has a 1 year low of $122.29 and a 1 year high of $203.75. The stock has a market capitalization of $13.08 billion, a PE ratio of 50.30, a P/E/G ratio of 4.96 and a beta of 1.25.

Aspen Technology (NASDAQ:AZPN – Get Rating) last issued its earnings results on Wednesday, April 27th. The technology company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. The business had revenue of $187.75 million for the quarter, compared to analyst estimates of $190.61 million. Aspen Technology had a return on equity of 40.86% and a net margin of 39.22%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. On average, sell-side analysts forecast that Aspen Technology will post 5.13 earnings per share for the current fiscal year.

In related news, Director Jr. Robert M. Whelan sold 4,010 shares of the stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $159.07, for a total value of $637,870.70. Following the completion of the transaction, the director now directly owns 12,865 shares of the company’s stock, valued at approximately $2,046,435.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley boosted its position in shares of Aspen Technology by 333.3% during the second quarter. Morgan Stanley now owns 153,954 shares of the technology company’s stock worth $21,174,000 after purchasing an additional 118,426 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Aspen Technology by 3,610.0% during the third quarter. Rockefeller Capital Management L.P. now owns 371 shares of the technology company’s stock worth $45,000 after buying an additional 361 shares during the period. Natixis bought a new position in Aspen Technology during the third quarter worth $3,303,000. Franklin Resources Inc. boosted its stake in Aspen Technology by 7.3% during the third quarter. Franklin Resources Inc. now owns 1,046,659 shares of the technology company’s stock worth $128,530,000 after acquiring an additional 71,456 shares in the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in shares of Aspen Technology by 31.4% in the third quarter. Ensign Peak Advisors Inc now owns 48,500 shares of the technology company’s stock valued at $5,956,000 after buying an additional 11,585 shares in the last quarter. Institutional investors own 96.49% of the company’s stock.

Aspen Technology Company Profile (Get Rating)

Aspen Technology, Inc, together with its subsidiaries, provides asset optimization solutions in North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company operates in two segments, Subscription and Software, and Services and Other. It offers asset optimization software that optimizes asset design, operations, and maintenance in various industrial environments.

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