Aspen Technology (NASDAQ:AZPN) Reaches New 1-Year High on Analyst Upgrade

Aspen Technology, Inc. (NASDAQ:AZPN - Get Free Report) reached a new 52-week high during trading on Tuesday after Piper Sandler raised their price target on the stock from $217.00 to $240.00. Piper Sandler currently has a neutral rating on the stock. Aspen Technology traded as high as $248.00 and last traded at $244.30, with a volume of 199625 shares traded. The stock had previously closed at $237.59.

Several other analysts have also recently issued reports on AZPN. Bank of America upped their price target 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. Robert W. Baird upped their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. Finally, Loop Capital increased their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $253.00.

Insider Transactions at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the completion of the transaction, the director now owns 8,540 shares in the company, valued at $1,871,114. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Aspen Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE grew its position in Aspen Technology by 0.4% in the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company's stock valued at $3,271,000 after buying an additional 50 shares in the last quarter. LRI Investments LLC boosted its position in shares of Aspen Technology by 6.7% during the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company's stock valued at $171,000 after purchasing an additional 54 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Aspen Technology by 1.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company's stock valued at $736,000 after purchasing an additional 55 shares in the last quarter. Tortoise Investment Management LLC boosted its position in shares of Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company's stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. Finally, OFI Invest Asset Management boosted its position in shares of Aspen Technology by 7.4% during the 2nd quarter. OFI Invest Asset Management now owns 872 shares of the technology company's stock valued at $162,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 45.66% of the company's stock.

Aspen Technology Trading Up 1.4 %

The company's 50-day moving average price is $233.16 and its two-hundred day moving average price is $212.94. The company has a market cap of $15.24 billion, a P/E ratio of -1,504.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.39 by ($0.54). Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The business had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. During the same quarter last year, the business posted $0.96 EPS. The business's revenue for the quarter was down 13.4% on a year-over-year basis. Equities analysts forecast that Aspen Technology, Inc. will post 6.53 earnings per share for the current 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.