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

Aspen Technology, Inc. (NASDAQ:AZPN) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $253.00.

A number of equities research analysts recently issued reports on AZPN shares. Piper Sandler upped their price objective on shares of Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird upped their price target on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Loop Capital raised their price objective 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, Bank of America upped their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th.

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $245.97 on Tuesday. The firm has a market cap of $15.56 billion, a price-to-earnings ratio of -424.09, a P/E/G ratio of 2.77 and a beta of 0.76. The stock has a 50-day simple moving average of $234.52 and a 200-day simple moving average of $213.68. Aspen Technology has a 52-week low of $162.26 and a 52-week high of $249.00.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share (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 business had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. During the same quarter last year, the firm earned $0.96 earnings per share. Aspen Technology’s revenue was down 13.4% compared to the same quarter last year. As a group, equities research analysts predict that Aspen Technology will post 6.53 earnings per share for the current year.

Insider Transactions at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of 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 currently owned by corporate insiders.

Institutional Trading of Aspen Technology

A number of hedge funds have recently bought and sold shares of AZPN. Tortoise Investment Management LLC raised its position in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares during the last quarter. Mather Group LLC. lifted its position in shares of Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after acquiring an additional 130 shares during the period. Crewe Advisors LLC grew its holdings in shares of Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. Quent Capital LLC increased its position in shares of Aspen Technology by 364.9% during the third quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after purchasing an additional 135 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 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.