Aspen Technology, Inc. (NASDAQ:AZPN) Receives $224.50 Consensus Target Price from Analysts

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $239.00.

A number of equities analysts recently commented on AZPN shares. Piper Sandler raised their price objective on shares of Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America raised their price objective on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Insiders Place Their Bets

In other 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 transaction of $219,100.00. Following the transaction, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tortoise Investment Management LLC grew its stake in Aspen Technology by 77.8% in the 2nd 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. grew its stake in Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after buying an additional 130 shares during the last quarter. Crewe Advisors LLC grew its stake in Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after buying an additional 119 shares during the last quarter. GAMMA Investing LLC grew its stake in Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in Aspen Technology in the 2nd quarter valued at $37,000. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

AZPN stock opened at $236.00 on Monday. Aspen Technology has a 12 month low of $162.26 and a 12 month high of $237.74. The firm has a market cap of $14.95 billion, a PE ratio of -536.36, a P/E/G ratio of 2.63 and a beta of 0.75. The firm has a 50 day simple moving average of $208.93 and a 200 day simple moving average of $205.65.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $1.88 by $0.49. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The business had revenue of $342.91 million during the quarter, compared to analyst estimates of $319.10 million. During the same period in the prior year, the business earned $1.87 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Aspen Technology will post 6.53 earnings per share for the current year.

About Aspen Technology

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.