Analysts Set Aspen Technology, Inc. (NASDAQ:AZPN) Price Target at $272.00

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been given an average recommendation of “Hold” by the seven research firms that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $272.00.

AZPN has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Robert W. Baird reissued a “neutral” rating and set a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and raised their price target for the company from $265.00 to $315.00 in a research report on Monday, February 10th. StockNews.com initiated coverage on Aspen Technology in a research report on Thursday, March 6th. They set a “hold” rating for the company. Finally, Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th.

Aspen Technology Trading Up 0.1 %

AZPN stock opened at $264.66 on Monday. The firm has a market cap of $16.76 billion, a PE ratio of 3,308.71, a PEG ratio of 3.00 and a beta of 0.73. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $277.37. The company has a fifty day simple moving average of $260.52 and a 200 day simple moving average of $247.22.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. As a group, analysts forecast that Aspen Technology will post 6.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Siemens Fonds Invest GmbH bought a new stake in Aspen Technology in the 4th quarter valued at $2,728,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Aspen Technology in the fourth quarter valued at about $1,065,000. ABLE Financial Group LLC raised its position in Aspen Technology by 14.0% in the fourth quarter. ABLE Financial Group LLC now owns 7,318 shares of the technology company’s stock worth $1,827,000 after purchasing an additional 896 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in Aspen Technology during the fourth quarter worth about $1,248,000. Finally, Forum Financial Management LP lifted its stake in Aspen Technology by 114.3% during the fourth quarter. Forum Financial Management LP now owns 1,862 shares of the technology company’s stock worth $465,000 after purchasing an additional 993 shares during the period. 45.66% of the stock is currently owned by institutional investors and hedge funds.

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.