Aspen Technology (NASDAQ:AZPN) Price Target Raised to $265.00

Aspen Technology (NASDAQ:AZPN) had its target price raised by Piper Sandler from $240.00 to $265.00 in a report published on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Berenberg Bank downgraded shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. StockNews.com began coverage on shares of Aspen Technology in a research report on Saturday, January 25th. They issued a “hold” rating for the company. Finally, Robert W. Baird reissued a “neutral” rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a report on Monday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Aspen Technology has an average rating of “Hold” and a consensus price target of $261.00.

Aspen Technology Stock Down 0.1 %

NASDAQ AZPN opened at $263.79 on Monday. The business has a 50 day moving average price of $251.65 and a 200-day moving average price of $233.48. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $264.43. The company has a market cap of $16.68 billion, a price-to-earnings ratio of -454.81, a P/E/G ratio of 2.94 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm had revenue of $215.90 million during the quarter, compared to the consensus estimate of $265.04 million. During the same period in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. On average, equities research analysts anticipate that Aspen Technology will post 6.68 earnings per share for the current year.

Institutional Trading of Aspen Technology

A number of large investors have recently made changes to their positions in the stock. Stephens Inc. AR raised its holdings in shares of Aspen Technology by 2.4% in the fourth quarter. Stephens Inc. AR now owns 3,210 shares of the technology company’s stock worth $801,000 after buying an additional 75 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Aspen Technology in the fourth quarter worth approximately $2,991,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Aspen Technology by 126.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 270 shares of the technology company’s stock worth $68,000 after purchasing an additional 151 shares during the last quarter. Caprock Group LLC purchased a new stake in Aspen Technology in the 4th quarter valued at $327,000. Finally, R Squared Ltd purchased a new stake in shares of Aspen Technology in the 4th quarter valued at approximately $160,000. 45.66% of the stock is owned by hedge funds and other institutional investors.

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.