Robert W. Baird Issues Positive Forecast for Aspen Technology (NASDAQ:AZPN) Stock Price

Aspen Technology (NASDAQ:AZPN - Free Report) had its target price raised by Robert W. Baird from $250.00 to $275.00 in a research report report published on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company's stock.

Other equities analysts also recently issued reports about the company. 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 report on Wednesday, September 18th. Berenberg Bank cut shares of Aspen Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th. StockNews.com assumed coverage on shares of Aspen Technology in a research note on Sunday. They set a "hold" rating on the stock. Piper Sandler upped their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. Finally, Loop Capital raised their price objective on Aspen Technology from $204.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $258.00.

Aspen Technology Price Performance

Shares of AZPN traded up $1.21 during midday trading on Wednesday, reaching $253.16. The stock had a trading volume of 361,328 shares, compared to its average volume of 247,545. The company has a market cap of $16.01 billion, a price-to-earnings ratio of -434.40, a PEG ratio of 2.87 and a beta of 0.76. The company's fifty day simple moving average is $242.64 and its two-hundred day simple moving average is $220.65. Aspen Technology has a 1-year low of $171.25 and a 1-year high of $254.44.

Aspen Technology (NASDAQ:AZPN - Get Free Report) last posted its quarterly 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 business 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 3.26% and a positive return on equity of 2.81%. The firm's quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, sell-side analysts forecast that Aspen Technology will post 6.68 earnings per share for the current year.

Hedge Funds Weigh In On Aspen Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in AZPN. Franklin Resources Inc. lifted its position in Aspen Technology by 2.7% during the 3rd quarter. Franklin Resources Inc. now owns 29,120 shares of the technology company's stock worth $6,912,000 after acquiring an additional 778 shares during the period. Synovus Financial Corp lifted its holdings in shares of Aspen Technology by 12.6% during the third quarter. Synovus Financial Corp now owns 12,487 shares of the technology company's stock worth $2,982,000 after purchasing an additional 1,396 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Aspen Technology by 9.2% during the third quarter. Sanctuary Advisors LLC now owns 12,606 shares of the technology company's stock worth $3,162,000 after purchasing an additional 1,065 shares during the period. Anchor Investment Management LLC purchased a new position in Aspen Technology in the 3rd quarter valued at $77,000. Finally, SkyView Investment Advisors LLC increased its stake in Aspen Technology by 2.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,188 shares of the technology company's stock valued at $761,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 45.66% of the company's stock.

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.