Aspen Technology (NASDAQ:AZPN) PT Raised to $260.00

Aspen Technology (NASDAQ:AZPN) had its price objective increased by research analysts at Bank of America from $225.00 to $260.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Bank of America‘s price target points to a potential upside of 12.66% from the company’s previous close.

AZPN has been the topic of several other research reports. Piper Sandler increased their target price on shares of Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday. Robert W. Baird upped their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.00.

Aspen Technology Trading Down 1.2 %

Shares of NASDAQ:AZPN traded down $2.75 during trading on Wednesday, reaching $230.79. The company’s stock had a trading volume of 39,149 shares, compared to its average volume of 209,076. The stock has a market capitalization of $14.62 billion, a PE ratio of -524.52, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. Aspen Technology has a 12 month low of $162.26 and a 12 month high of $235.10. The firm’s 50 day simple moving average is $207.95 and its two-hundred day simple moving average is $205.44.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.87 EPS. Research analysts anticipate that Aspen Technology will post 6.53 EPS for the current fiscal year.

Insider Activity

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the transaction, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AZPN. Dimensional Fund Advisors LP raised its position in Aspen Technology by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock valued at $68,931,000 after purchasing an additional 16,649 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of Aspen Technology in the first quarter valued at about $1,487,000. DekaBank Deutsche Girozentrale lifted its stake in Aspen Technology by 1,034.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after acquiring an additional 35,056 shares during the period. Corient Private Wealth LLC grew its holdings in Aspen Technology by 203.6% during the 4th quarter. Corient Private Wealth LLC now owns 8,094 shares of the technology company’s stock worth $1,782,000 after acquiring an additional 5,428 shares in the last quarter. Finally, Polen Capital Management LLC increased its position in Aspen Technology by 47.7% during the 4th quarter. Polen Capital Management LLC now owns 11,117 shares of the technology company’s stock valued at $2,447,000 after purchasing an additional 3,588 shares during the period. Institutional investors 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.