Aspen Technology (NASDAQ:AZPN) Price Target Raised to $217.00

Aspen Technology (NASDAQ:AZPN) had its price objective boosted by Piper Sandler from $200.00 to $217.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

Separately, Robert W. Baird boosted their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $248.40.

Aspen Technology Stock Performance

Shares of AZPN opened at $235.56 on Wednesday. The company has a 50 day moving average price of $210.72 and a 200-day moving average price of $206.26. Aspen Technology has a fifty-two week low of $162.26 and a fifty-two week high of $240.82. The stock has a market capitalization of $14.92 billion, a PE ratio of -535.36, a PEG ratio of 2.63 and a beta of 0.75.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results 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. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The company had revenue of $342.91 million during the quarter, compared to analyst estimates of $319.10 million. During the same quarter in the prior year, the business earned $1.87 earnings per share. Aspen Technology’s revenue was up 6.9% on a year-over-year basis. Equities research analysts forecast that Aspen Technology will post 6.53 EPS for the current year.

Insider Buying and Selling

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was 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 $1,871,114. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AZPN. Tortoise Investment Management LLC lifted its stake in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after buying an additional 56 shares during the period. Mather Group LLC. lifted its position in Aspen Technology by 2,600.0% during the 2nd quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after acquiring an additional 130 shares during the period. Crewe Advisors LLC grew its stake 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 purchasing an additional 119 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 valued at $35,000 after purchasing an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Aspen Technology in the second quarter worth about $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.