Aspen Technology, Inc. (NASDAQ:AZPN) Given Average Recommendation of “Moderate Buy” by Brokerages

Aspen Technology, Inc. (NASDAQ:AZPN) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $248.40.

A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price objective on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. 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 report on Wednesday, September 18th. Bank of America lifted their price objective 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. Finally, Loop Capital increased their target price on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday.

Insider Buying and Selling

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

Institutional Trading of Aspen Technology

A number of large investors have recently made changes to their positions in AZPN. LRI Investments LLC boosted its holdings in shares of Aspen Technology by 6.7% in the second quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock valued at $171,000 after acquiring an additional 54 shares during the period. Tortoise Investment Management LLC grew its position in Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after purchasing an additional 56 shares during the last quarter. OFI Invest Asset Management increased its stake in Aspen Technology by 7.4% in the second quarter. OFI Invest Asset Management now owns 872 shares of the technology company’s stock valued at $162,000 after purchasing an additional 60 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Aspen Technology by 4.1% in the second quarter. Assenagon Asset Management S.A. now owns 1,536 shares of the technology company’s stock valued at $305,000 after buying an additional 60 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Aspen Technology by 2.5% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 2,654 shares of the technology company’s stock worth $527,000 after buying an additional 65 shares during the period. 45.66% of the stock is owned by institutional investors and hedge funds.

Aspen Technology Stock Down 1.5 %

Aspen Technology stock opened at $235.56 on Monday. The company’s 50 day moving average is $210.72 and its two-hundred day moving average is $206.34. The firm has a market cap of $14.92 billion, a PE ratio of -535.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. Aspen Technology has a 52-week low of $162.26 and a 52-week high of $240.82.

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

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.