Aspen Technology (NASDAQ:AZPN) Price Target Increased to $260.00 by Analysts at Loop Capital

Aspen Technology (NASDAQ:AZPN) had its price target raised by stock analysts at Loop Capital from $204.00 to $260.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Loop Capital’s price target would suggest a potential upside of 10.17% from the stock’s previous close.

A number of other research firms have also weighed in on AZPN. Piper Sandler upped their target price on Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday. Robert W. Baird boosted their price target on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Bank of America raised their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Aspen Technology presently has a consensus rating of “Moderate Buy” and an average price target of $248.40.

Aspen Technology Stock Up 1.1 %

Shares of NASDAQ AZPN opened at $236.00 on Thursday. Aspen Technology has a twelve month low of $162.26 and a twelve month high of $237.74. The business has a fifty day simple moving average of $208.93 and a two-hundred day simple moving average of $205.65. The firm has a market cap of $14.95 billion, a PE ratio of -536.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75.

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

Insider Buying and Selling at Aspen Technology

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the sale, the director now owns 8,540 shares in the company, valued at $1,871,114. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aspen Technology

A number of large investors have recently made changes to their positions in the stock. Tortoise Investment Management LLC raised 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 worth $25,000 after acquiring an additional 56 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Aspen Technology by 2,600.0% in the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares during the period. Crewe Advisors LLC raised its stake 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 worth $31,000 after purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC raised its stake 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 worth $35,000 after purchasing an additional 69 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in Aspen Technology in the second quarter valued at approximately $37,000. 45.66% of the stock is owned by hedge funds and other institutional investors.

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.