Aspen Technology (NASDAQ:AZPN) Given New $265.00 Price Target at Piper Sandler

Aspen Technology (NASDAQ:AZPN) had its price target boosted by Piper Sandler from $240.00 to $265.00 in a report published on Monday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on AZPN. Robert W. Baird reissued a “neutral” rating and issued a $265.00 price target (down from $275.00) on shares of Aspen Technology in a report on Monday. StockNews.com assumed coverage on shares of Aspen Technology in a research note on Saturday. They issued a “hold” rating on the stock. Finally, Berenberg Bank lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $261.00.

Aspen Technology Trading Up 3.3 %

AZPN opened at $263.50 on Monday. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $263.96. The company has a market cap of $16.67 billion, a PE ratio of -454.31, a price-to-earnings-growth ratio of 2.94 and a beta of 0.76. The company has a 50 day moving average of $250.59 and a 200 day moving average of $232.27.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The company had revenue of $215.90 million during the quarter, compared to the consensus estimate of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. Aspen Technology’s revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 earnings per share. Research analysts forecast that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Commerce Bank increased its position in Aspen Technology by 3.1% during the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after purchasing an additional 47 shares during the period. Heritage Family Offices LLP grew its stake in Aspen Technology by 2.8% in the fourth quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock worth $431,000 after purchasing an additional 47 shares during the period. US Bancorp DE raised its holdings in Aspen Technology by 0.4% in the third quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after purchasing an additional 50 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Aspen Technology by 1.8% during the third quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after buying an additional 55 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Aspen Technology by 30.1% in the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock worth $63,000 after buying an additional 58 shares during the period. 45.66% of the stock is currently owned by institutional investors.

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.