Aspen Technology (NASDAQ:AZPN) Price Target Raised to $275.00

Aspen Technology (NASDAQ:AZPN) had its target price increased by Robert W. Baird from $250.00 to $275.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Loop Capital raised their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Bank of America boosted their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Piper Sandler increased their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com assumed coverage on Aspen Technology in a research note on Sunday, December 8th. They issued a “hold” rating on the stock. Finally, Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $258.00.

Aspen Technology Trading Down 0.9 %

Shares of Aspen Technology stock opened at $248.80 on Wednesday. The business’s fifty day simple moving average is $243.53 and its 200 day simple moving average is $221.28. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $254.44. The firm has a market capitalization of $15.74 billion, a P/E ratio of -428.97, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The business had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Analysts predict that Aspen Technology will post 6.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

Several hedge funds and other institutional investors have recently modified their holdings of AZPN. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Aspen Technology by 1.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock valued at $812,459,000 after acquiring an additional 65,143 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Aspen Technology by 5.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock worth $139,156,000 after purchasing an additional 28,820 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Aspen Technology by 38.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock valued at $110,014,000 after purchasing an additional 153,897 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Aspen Technology by 26.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock valued at $104,199,000 after purchasing an additional 109,783 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in shares of Aspen Technology by 3.8% in the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after purchasing an additional 12,500 shares during the period. 45.66% of the stock is currently owned by institutional investors.

Aspen Technology Company Profile

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.