Aspen Technology’s (AZPN) Outperform Rating Reaffirmed at Robert W. Baird

Aspen Technology (NASDAQ:AZPN)‘s stock had its “outperform” rating reiterated by Robert W. Baird in a research note issued to investors on Friday, Benzinga reports. They currently have a $230.00 target price on the technology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 16.36% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. William Blair raised Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $255.00 in a research report on Friday, May 17th. Finally, Piper Sandler reduced their target price on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aspen Technology presently has an average rating of “Hold” and a consensus price target of $219.50.

Aspen Technology Trading Down 1.0 %

Shares of NASDAQ AZPN opened at $197.66 on Friday. The stock has a market capitalization of $12.52 billion, a PE ratio of -449.22, a price-to-earnings-growth ratio of 2.52 and a beta of 0.76. The stock’s fifty day simple moving average is $206.51 and its two-hundred day simple moving average is $202.76. Aspen Technology has a 12-month low of $161.32 and a 12-month high of $224.77.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.39. The business had revenue of $278.11 million for the quarter, compared to analysts’ expectations of $251.65 million. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. On average, equities analysts predict that Aspen Technology will post 5.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina raised its stake in shares of Aspen Technology by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 12,254 shares of the technology company’s stock valued at $2,503,000 after buying an additional 60 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Aspen Technology by 3.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,864 shares of the technology company’s stock valued at $410,000 after buying an additional 63 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Aspen Technology by 4.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,476 shares of the technology company’s stock valued at $315,000 after buying an additional 64 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Aspen Technology by 4.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,592 shares of the technology company’s stock valued at $325,000 after buying an additional 66 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its stake in shares of Aspen Technology by 2.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,778 shares of the technology company’s stock valued at $567,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

About Aspen Technology

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.