Aspen Technology (NASDAQ:AZPN) Sets New 52-Week High - Still a Buy?

Aspen Technology, Inc. (NASDAQ:AZPN - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $250.00 and last traded at $249.55, with a volume of 96472 shares. The stock had previously closed at $248.49.

Analyst Ratings Changes

Several research firms have weighed in on AZPN. Robert W. Baird lifted their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. StockNews.com initiated coverage on shares of Aspen Technology in a research note on Friday. They issued a "hold" rating for the company. Bank of America lifted their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Loop Capital boosted their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Finally, Piper Sandler boosted their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $253.00.

Aspen Technology Stock Up 0.6 %

The company's fifty day moving average is $238.27 and its two-hundred day moving average is $217.03. The firm has a market capitalization of $15.82 billion, a price-to-earnings ratio of -427.74, a price-to-earnings-growth ratio of 2.82 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $215.90 million during the quarter, compared to the consensus estimate of $265.04 million. During the same period last year, the business earned $0.96 EPS. The business's revenue was down 13.4% on a year-over-year basis. On average, equities research analysts expect that Aspen Technology, Inc. will post 6.68 EPS for the current year.

Insider Buying and Selling

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the transaction, the director now directly owns 8,540 shares in the company, valued at $1,871,114. This represents a 10.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aspen Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Aspen Technology by 38.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company's stock worth $110,014,000 after acquiring an additional 153,897 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Aspen Technology in the 3rd quarter valued at $290,880,000. Dimensional Fund Advisors LP boosted its stake 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 valued at $104,199,000 after purchasing an additional 109,783 shares during the last quarter. American Capital Management Inc. boosted its stake in 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 acquiring an additional 105,254 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Aspen Technology by 52.9% during the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company's stock worth $62,657,000 after acquiring an additional 101,586 shares in the last quarter. 45.66% of the stock is currently 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.

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