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

Shares of Aspen Technology, Inc. (NASDAQ:AZPNGet Free Report) have received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $219.50.

Several brokerages recently commented on AZPN. William Blair raised Aspen Technology to a “hold” rating in a research report on Tuesday, May 7th. Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the company from $185.00 to $255.00 in a report on Friday, May 17th. Robert W. Baird boosted their target price on shares of Aspen Technology from $210.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Finally, Piper Sandler dropped their price target on shares of Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th.

Get Our Latest Research Report on AZPN

Institutional Investors Weigh In On Aspen Technology

Several hedge funds have recently added to or reduced their stakes in AZPN. Benjamin F. Edwards & Company Inc. raised its position in shares of Aspen Technology by 561.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock valued at $48,000 after purchasing an additional 191 shares during the period. Principal Securities Inc. bought a new position in Aspen Technology in the 4th quarter valued at about $73,000. UniSuper Management Pty Ltd lifted its position in Aspen Technology by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 400 shares of the technology company’s stock worth $85,000 after acquiring an additional 200 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Aspen Technology by 36.0% during the first quarter. Covestor Ltd now owns 468 shares of the technology company’s stock worth $100,000 after acquiring an additional 124 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Aspen Technology by 276.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 674 shares of the technology company’s stock valued at $144,000 after purchasing an additional 495 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Trading Up 1.9 %

Shares of AZPN opened at $204.56 on Friday. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of -464.90, a PEG ratio of 2.55 and a beta of 0.76. Aspen Technology has a 12 month low of $161.32 and a 12 month high of $224.77. The firm has a fifty day simple moving average of $207.16 and a 200 day simple moving average of $202.55.

Aspen Technology (NASDAQ:AZPNGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.15 by $0.39. The firm had revenue of $278.11 million for the quarter, compared to analysts’ expectations of $251.65 million. Aspen Technology had a negative net margin of 2.46% and a positive return on equity of 2.76%. As a group, research analysts predict that Aspen Technology will post 5.52 earnings per share for the current fiscal year.

About Aspen Technology

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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.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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