Aspen Technology (NASDAQ:AZPN) Given New $250.00 Price Target at Robert W. Baird

Aspen Technology (NASDAQ:AZPN) had its price objective lifted by investment analysts at Robert W. Baird from $230.00 to $250.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target points to a potential upside of 19.63% from the company’s current price.

A number of other analysts also recently issued reports on the company. Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and raised their target price for the stock from $185.00 to $255.00 in a research note on Friday, May 17th. Piper Sandler cut their target price on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. Finally, William Blair raised Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $224.50.

Aspen Technology Trading Up 17.5 %

AZPN stock traded up $31.14 during midday trading on Wednesday, reaching $208.98. The stock had a trading volume of 175,224 shares, compared to its average volume of 204,041. The company’s fifty day simple moving average is $195.98 and its 200 day simple moving average is $199.26. The company has a market cap of $13.23 billion, a price-to-earnings ratio of -475.84, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73. Aspen Technology has a 52-week low of $162.26 and a 52-week high of $224.06.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The business had revenue of $342.91 million during the quarter, compared to the consensus estimate of $319.10 million. During the same period last year, the company earned $1.87 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts predict that Aspen Technology will post 5.52 EPS for the current year.

Institutional Trading of Aspen Technology

Hedge funds and other institutional investors have recently modified their holdings of the business. Tortoise Investment Management LLC increased its position 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 purchasing an additional 56 shares during the last quarter. Mather Group LLC. boosted its holdings in Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Crewe Advisors LLC boosted its holdings in Aspen Technology by 313.2% during the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after acquiring an additional 119 shares during the period. GAMMA Investing LLC boosted 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 valued at $35,000 after acquiring an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Aspen Technology during the 2nd quarter valued at about $37,000. 45.66% of the stock is owned by institutional investors and hedge funds.

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.