Analysts Set Aspen Technology, Inc. (NASDAQ:AZPN) PT at $207.20

Shares of Aspen Technology, Inc. (NASDAQ:AZPNGet Rating) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $207.20.

AZPN has been the subject of several research reports. KeyCorp raised their price objective on shares of Aspen Technology from $175.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, July 8th. Robert W. Baird upped their price target on shares of Aspen Technology to $182.00 in a research note on Monday, August 15th. Bank of America raised their price target on shares of Aspen Technology from $176.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. Loop Capital boosted their price objective on shares of Aspen Technology from $175.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, June 15th. Finally, StockNews.com raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th.

Aspen Technology Trading Up 2.7 %

NASDAQ:AZPN opened at $221.41 on Thursday. The business’s 50-day simple moving average is $201.95 and its 200-day simple moving average is $180.88. Aspen Technology has a fifty-two week low of $122.29 and a fifty-two week high of $229.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.47 and a quick ratio of 4.07. The stock has a market capitalization of $14.35 billion, a PE ratio of 59.04, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19.

Aspen Technology (NASDAQ:AZPNGet Rating) last released its earnings results on Monday, August 8th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.36. Aspen Technology had a net margin of 31.82% and a return on equity of 8.23%. The business had revenue of $238.90 million during the quarter, compared to the consensus estimate of $293.17 million. During the same quarter last year, the firm earned $1.43 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. Sell-side analysts expect that Aspen Technology will post 6.16 earnings per share for the current fiscal year.

Insider Transactions at Aspen Technology

In related news, VP F G. Hammond sold 4,262 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $211.57, for a total value of $901,711.34. Following the sale, the vice president now owns 20,606 shares of the company’s stock, valued at $4,359,611.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Aspen Technology

Large investors have recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its position in shares of Aspen Technology by 956.3% during the 4th quarter. First Horizon Advisors Inc. now owns 169 shares of the technology company’s stock valued at $25,000 after acquiring an additional 153 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Aspen Technology by 0.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 21,904 shares of the technology company’s stock worth $3,334,000 after purchasing an additional 154 shares during the period. Teacher Retirement System of Texas increased its stake in Aspen Technology by 17.8% in the fourth quarter. Teacher Retirement System of Texas now owns 12,870 shares of the technology company’s stock valued at $1,959,000 after purchasing an additional 1,943 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Aspen Technology by 82.5% during the fourth quarter. Citigroup Inc. now owns 90,076 shares of the technology company’s stock valued at $13,710,000 after purchasing an additional 40,724 shares during the period. Finally, Confluence Wealth Services Inc. bought a new position in shares of Aspen Technology during the 4th quarter worth about $28,000. 93.73% of the stock is currently owned by institutional investors and hedge funds.

About Aspen Technology

(Get Rating)

Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It serves bulk chemicals, consumer packaged goods, downstream, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, upstream, and water and wastewater industries; power generation, transmission, and distribution industries; and engineering, procurement, and construction industries.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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