Brokerages Set Aspen Technology, Inc. (NASDAQ:AZPN) PT at $248.40

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $248.40.

A number of research analysts recently weighed in on AZPN shares. Robert W. Baird raised their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Loop Capital increased their price objective 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. Piper Sandler lifted their target price on Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Finally, Bank of America upped their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th.

Aspen Technology Price Performance

AZPN opened at $236.92 on Friday. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of -538.45, a P/E/G ratio of 2.75 and a beta of 0.76. The business’s 50-day moving average price is $227.61 and its two-hundred day moving average price is $210.57. Aspen Technology has a 1 year low of $162.26 and a 1 year high of $240.82.

Aspen Technology (NASDAQ:AZPN) last announced 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 business had revenue of $342.91 million for the quarter, compared to analyst estimates of $319.10 million. During the same quarter last year, the firm earned $1.87 EPS. Aspen Technology’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Aspen Technology will post 6.53 earnings per share for the current fiscal year.

Insider Transactions at Aspen Technology

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 completion of the sale, the director now directly owns 8,540 shares in the company, valued at approximately $1,871,114. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Trading of Aspen Technology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tortoise Investment Management LLC increased its holdings in shares of 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 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 last quarter. Crewe Advisors LLC raised its position 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 valued at $31,000 after purchasing an additional 119 shares during the period. Quent Capital LLC raised its holdings in Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after acquiring an additional 135 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Aspen Technology by 65.7% during the 2nd 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. 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.