Aspen Technology (NASDAQ:AZPN) Sets New 1-Year High – Time to Buy?

Aspen Technology, Inc. (NASDAQ:AZPN) hit a new 52-week high during trading on Tuesday . The company traded as high as $241.35 and last traded at $240.82, with a volume of 49943 shares trading hands. The stock had previously closed at $239.92.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Bank of America increased their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Loop Capital lifted their price target on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Robert W. Baird lifted their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $248.40.

Aspen Technology Price Performance

The firm has a market cap of $15.21 billion, a price-to-earnings ratio of -543.68, a P/E/G ratio of 2.75 and a beta of 0.76. The firm’s fifty day moving average is $231.06 and its two-hundred day moving average is $211.67.

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, topping the consensus estimate of $1.88 by $0.49. The firm had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.87 EPS. On average, equities analysts forecast that Aspen Technology, Inc. will post 6.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aspen Technology 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 approximately $1,871,114. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Aspen Technology

Large investors have recently made changes to their positions in the business. Tortoise Investment Management LLC increased its holdings in shares of Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after purchasing an additional 56 shares during the period. Mather Group LLC. grew its stake in shares of Aspen Technology by 2,600.0% in the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after buying an additional 130 shares in the last quarter. Crewe Advisors LLC grew its stake in shares of Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after buying an additional 119 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Aspen Technology in the 2nd 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.