Aspen Technology, Inc. (NASDAQ:AZPN) Receives $258.00 Consensus PT from Analysts

Shares of Aspen Technology, Inc. (NASDAQ:AZPN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $258.00.

Several analysts have recently issued reports on the company. Bank of America increased their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Robert W. Baird upped their price objective on shares of Aspen Technology from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Berenberg Bank lowered shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th. Piper Sandler boosted their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Finally, StockNews.com initiated coverage on Aspen Technology in a research note on Tuesday. They issued a "hold" rating on the stock.

Aspen Technology Stock Up 0.5 %

Shares of NASDAQ:AZPN traded up $1.24 during midday trading on Wednesday, hitting $250.80. The stock had a trading volume of 320,684 shares, compared to its average volume of 260,053. The company has a market cap of $15.86 billion, a P/E ratio of -432.41, a PEG ratio of 2.89 and a beta of 0.76. The business's 50-day simple moving average is $245.44 and its 200-day simple moving average is $223.42. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $254.44.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced 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). Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The company had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. During the same quarter last year, the company posted $0.96 EPS. The firm's quarterly revenue was down 13.4% on a year-over-year basis. As a group, equities analysts predict that Aspen Technology will post 6.68 earnings per share for the current year.

Institutional Trading of Aspen Technology

Several institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in Aspen Technology in the third quarter valued at approximately $290,880,000. Dimensional Fund Advisors LP lifted its position in shares of Aspen Technology by 26.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company's stock worth $104,199,000 after purchasing an additional 109,783 shares during the period. American Capital Management Inc. increased its position in shares of Aspen Technology by 116.9% during the third quarter. American Capital Management Inc. now owns 195,271 shares of the technology company's stock worth $46,635,000 after buying an additional 105,254 shares during the period. Point72 Asset Management L.P. bought a new position in Aspen Technology during the third quarter worth $19,928,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in 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 buying an additional 65,143 shares during the period. Institutional investors own 45.66% of the company's stock.

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.