Analysts Set Aspen Technology, Inc. (NASDAQ:AZPN) PT at $258.00

Aspen Technology, Inc. (NASDAQ:AZPN) has been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $258.00.

AZPN has been the topic of a number of recent analyst reports. StockNews.com assumed coverage on Aspen Technology in a research note on Tuesday, December 24th. They set a “hold” rating on the stock. Loop Capital raised their price target on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Robert W. Baird lifted their price target on Aspen Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Piper Sandler increased their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Bank of America boosted their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 18th.

Aspen Technology Stock Up 0.2 %

AZPN opened at $251.06 on Wednesday. The business’s fifty day simple moving average is $246.22 and its 200 day simple moving average is $224.44. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $254.44. The firm has a market cap of $15.88 billion, a P/E ratio of -432.86, a PEG ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly 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 firm had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. As a group, equities analysts expect that Aspen Technology will post 6.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Aspen Technology by 1.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company’s stock worth $812,459,000 after purchasing an additional 65,143 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Aspen Technology by 5.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 582,682 shares of the technology company’s stock valued at $139,156,000 after acquiring an additional 28,820 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Aspen Technology by 26.5% during the second 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 during the period. JPMorgan Chase & Co. lifted its position in shares of Aspen Technology by 89.2% during the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock worth $86,799,000 after purchasing an additional 171,351 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake 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 valued at $67,567,000 after purchasing an additional 12,500 shares during the period. 45.66% of the stock is owned by institutional investors and hedge funds.

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.