Aspen Technology, Inc. (NASDAQ:AZPN) Receives $248.40 Consensus Price Target from Analysts

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $248.40.

Several analysts have weighed in on AZPN shares. Loop Capital boosted 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. 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 note on Wednesday, September 18th. Robert W. Baird upped their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler upped their target price on Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th.

Aspen Technology Stock Up 2.0 %

AZPN opened at $235.86 on Friday. The business has a fifty day moving average of $223.97 and a 200 day moving average of $209.85. Aspen Technology has a 52-week low of $162.26 and a 52-week high of $240.82. The stock has a market cap of $14.94 billion, a P/E ratio of -536.05, a PEG ratio of 2.75 and a beta of 0.76.

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

Insider Buying and Selling

In related 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 value of $219,100.00. Following the completion of the transaction, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aspen Technology

A number of hedge funds have recently made changes to their positions in AZPN. Tortoise Investment Management LLC raised its holdings 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 acquiring an additional 56 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after acquiring an additional 130 shares during the last quarter. Crewe Advisors LLC grew its position in shares of Aspen Technology by 313.2% in the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC grew its position 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. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Aspen Technology in the second quarter valued at approximately $37,000. Institutional investors and hedge funds 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.