Aspen Technology (NASDAQ:AZPN) Sets New 12-Month High - What's Next?

Aspen Technology, Inc. (NASDAQ:AZPN - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $241.35 and last traded at $240.82, with a volume of 49943 shares trading hands. The stock had previously closed at $239.92.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Robert W. Baird upped their price target on Aspen Technology from $230.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, August 7th. Bank of America upped their price target on 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 upped their price target on Aspen Technology from $204.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Finally, Piper Sandler boosted their price objective on Aspen Technology from $200.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Aspen Technology has a consensus rating of "Moderate Buy" and a consensus price target of $248.40.

Aspen Technology Trading Up 0.1 %

The stock has a market cap of $15.21 billion, a PE ratio of -546.02, a P/E/G ratio of 2.75 and a beta of 0.76. The company has a fifty day moving average of $231.06 and a 200-day moving average of $211.67.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The company had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. During the same quarter in the prior year, the business earned $1.87 EPS. Aspen Technology's revenue was up 6.9% on a year-over-year basis. As a group, research analysts anticipate that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the company's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Aspen Technology by 1.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,090,314 shares of the technology company's stock worth $812,459,000 after acquiring an additional 65,143 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $104,199,000 after purchasing an additional 109,783 shares during the period. Fiera Capital Corp boosted its position in shares of Aspen Technology by 3.8% in the 2nd 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. Finally, Capital Research Global Investors boosted its position in shares of Aspen Technology by 52.9% in the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company's stock valued at $62,657,000 after purchasing an additional 101,586 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.