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

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have received an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $248.40.

Several equities analysts have issued reports on AZPN shares. Piper Sandler lifted their price target on shares of Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Loop Capital boosted their target price on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Bank of America increased their price target on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Robert W. Baird boosted their price target on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $231.23 on Friday. Aspen Technology has a 1-year low of $162.26 and a 1-year high of $240.82. The business has a fifty day moving average price of $222.89 and a 200 day moving average price of $209.56. The stock has a market capitalization of $14.64 billion, a P/E ratio of -525.52, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $1.88 by $0.49. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The business had revenue of $342.91 million during the quarter, compared to analyst estimates of $319.10 million. During the same period in the prior year, the firm posted $1.87 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research 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 company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total value of $219,100.00. Following the sale, the director now owns 8,540 shares in the company, valued at $1,871,114. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. LRI Investments LLC raised its stake in shares of Aspen Technology by 6.7% during the 2nd quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock valued at $171,000 after buying an additional 54 shares during the last quarter. Tortoise Investment Management LLC lifted its holdings in Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after acquiring an additional 56 shares during the period. OFI Invest Asset Management boosted its position in Aspen Technology by 7.4% in the 2nd quarter. OFI Invest Asset Management now owns 872 shares of the technology company’s stock worth $162,000 after purchasing an additional 60 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Aspen Technology by 4.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,536 shares of the technology company’s stock worth $305,000 after purchasing an additional 60 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Aspen Technology by 2.5% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 2,654 shares of the technology company’s stock valued at $527,000 after purchasing an additional 65 shares in the last quarter. 45.66% of the stock is currently 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.