Brokerages Set Aspen Technology, Inc. (NASDAQ:AZPN) Price Target at $248.40

Shares of Aspen Technology, Inc. (NASDAQ:AZPN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $253.00.

A number of equities analysts have recently issued reports on the company. Piper Sandler increased their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a "neutral" rating in a research note on Tuesday. Bank of America raised their target price on Aspen Technology from $225.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Loop Capital upped their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Finally, Robert W. Baird raised their price objective 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.

Aspen Technology Stock Performance

Aspen Technology stock traded up $3.41 during mid-day trading on Tuesday, reaching $241.00. 2,419,312 shares of the company were exchanged, compared to its average volume of 212,387. The firm has a market cap of $15.24 billion, a PE ratio of -1,504.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76. The firm's 50-day simple moving average is $233.16 and its two-hundred day simple moving average is $212.94. Aspen Technology has a twelve month low of $162.26 and a twelve month high of $248.00.

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

Insider Buying and Selling at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the sale, the director now directly owns 8,540 shares in the company, valued at $1,871,114. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Aspen Technology

A number of institutional investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Aspen Technology by 38.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company's stock valued at $110,014,000 after buying an additional 153,897 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Aspen Technology during the 3rd quarter worth about $290,880,000. Dimensional Fund Advisors LP lifted its stake in shares of Aspen Technology by 26.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company's stock worth $104,199,000 after buying an additional 109,783 shares during the last quarter. Clean Energy Transition LLP bought a new stake in shares of Aspen Technology in the first quarter valued at approximately $22,110,000. Finally, Capital Research Global Investors grew its holdings in shares of Aspen Technology by 52.9% during the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company's stock worth $62,657,000 after purchasing an additional 101,586 shares in the last quarter. 45.66% of the stock is owned by institutional investors.

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.