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

Aspen Technology, Inc. (NASDAQ:AZPN - Get Free Report) has received an average rating of "Moderate Buy" from the six brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $258.00.

AZPN has been the topic of a number of analyst reports. StockNews.com initiated coverage on Aspen Technology in a research note on Friday. They issued a "hold" rating on the stock. Berenberg Bank cut Aspen Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 7th. Piper Sandler lifted 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. Finally, Robert W. Baird lifted their price target on Aspen Technology from $250.00 to $275.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings 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 valued at $812,459,000 after purchasing an additional 65,143 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Aspen Technology by 37,990.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company's stock valued at $158,318,000 after purchasing an additional 632,545 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings 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 during the period. Dimensional Fund Advisors LP lifted its holdings in Aspen Technology by 26.5% in the second quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company's stock valued at $104,199,000 after acquiring an additional 109,783 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Aspen Technology by 89.2% in the third quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company's stock valued at $86,799,000 after acquiring an additional 171,351 shares during the period. 45.66% of the stock is owned by institutional investors.

Aspen Technology Trading Up 0.2 %

Shares of AZPN traded up $0.56 during trading hours on Friday, reaching $251.52. 193,724 shares of the company's stock traded hands, compared to its average volume of 373,667. The firm's 50 day simple moving average is $249.77 and its 200-day simple moving average is $230.13. The stock has a market cap of $15.91 billion, a PE ratio of -433.66, a price-to-earnings-growth ratio of 2.84 and a beta of 0.76. 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 released its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $1.39 by ($0.54). The firm had revenue of $215.90 million during 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 business's quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. As a group, analysts expect that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

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.