Piper Sandler Reiterates Neutral Rating for Aspen Technology (NASDAQ:AZPN)

Piper Sandler reissued their neutral rating on shares of Aspen Technology (NASDAQ:AZPNFree Report) in a report released on Wednesday, Benzinga reports. The brokerage currently has a $196.00 price target on the technology company’s stock.

AZPN has been the subject of a number of other research reports. Robert W. Baird upgraded Aspen Technology from a neutral rating to an outperform rating and boosted their price objective for the stock from $194.00 to $202.00 in a report on Tuesday, November 14th. Loop Capital upgraded Aspen Technology from a hold rating to a buy rating and boosted their price target for the company from $180.00 to $213.00 in a research note on Friday, December 1st. Finally, StockNews.com upgraded Aspen Technology from a sell rating to a hold rating in a research note on Monday, December 4th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $210.25.

View Our Latest Report on Aspen Technology

Aspen Technology Trading Down 0.5 %

NASDAQ AZPN opened at $192.41 on Wednesday. The company has a market cap of $12.26 billion, a PE ratio of -94.78, a PEG ratio of 1.92 and a beta of 0.77. Aspen Technology has a 12 month low of $161.32 and a 12 month high of $247.96. The stock has a 50 day moving average of $204.47 and a 200-day moving average of $194.44.

Aspen Technology (NASDAQ:AZPNGet Free Report) last issued its quarterly earnings data on Monday, November 6th. The technology company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.23). Aspen Technology had a positive return on equity of 1.83% and a negative net margin of 12.57%. The company had revenue of $249.31 million for the quarter, compared to analyst estimates of $258.31 million. As a group, sell-side analysts predict that Aspen Technology will post 5.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC increased its stake in shares of Aspen Technology by 2.9% during the 2nd quarter. ProShare Advisors LLC now owns 1,949 shares of the technology company’s stock worth $327,000 after purchasing an additional 55 shares during the last quarter. Boston Trust Walden Corp grew its stake in Aspen Technology by 0.3% in the 3rd quarter. Boston Trust Walden Corp now owns 19,264 shares of the technology company’s stock valued at $3,935,000 after buying an additional 56 shares in the last quarter. First Manhattan Co. grew its stake in 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. Moneta Group Investment Advisors LLC grew its stake in Aspen Technology by 3.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,568 shares of the technology company’s stock valued at $322,000 after buying an additional 57 shares in the last quarter. Finally, Curated Wealth Partners LLC grew its stake in Aspen Technology by 4.1% in the 3rd quarter. Curated Wealth Partners LLC now owns 1,474 shares of the technology company’s stock valued at $301,000 after buying an additional 58 shares in the last quarter. 43.94% 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.

Further Reading

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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