Analysts Set Aspen Technology, Inc. (NASDAQ:AZPN) Price Target at $219.50

Aspen Technology, Inc. (NASDAQ:AZPN) has been given an average rating of “Moderate Buy” by the five research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $219.50.

A number of equities analysts recently issued reports on AZPN shares. Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and upped their price target for the company from $185.00 to $255.00 in a report on Friday, May 17th. Piper Sandler reduced their price objective on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. William Blair upgraded Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $230.00 price objective on shares of Aspen Technology in a research note on Friday, June 14th.

Institutional Investors Weigh In On Aspen Technology

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Aspen Technology by 7.9% during the fourth quarter. Wellington Management Group LLP now owns 612,024 shares of the technology company’s stock worth $134,737,000 after purchasing an additional 44,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Aspen Technology by 38.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock worth $110,014,000 after purchasing an additional 153,897 shares during the last quarter. Fiera Capital Corp raised its stake in shares of Aspen Technology by 3.8% during the second quarter. Fiera Capital Corp now owns 340,166 shares of the technology company’s stock worth $67,567,000 after purchasing an additional 12,500 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Aspen Technology by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock worth $68,931,000 after purchasing an additional 16,649 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of Aspen Technology by 52.9% during the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock worth $62,657,000 after purchasing an additional 101,586 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Down 0.0 %

Shares of AZPN opened at $181.93 on Friday. The stock has a 50 day moving average price of $197.75 and a 200 day moving average price of $199.61. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of -413.47, a price-to-earnings-growth ratio of 2.26 and a beta of 0.73. Aspen Technology has a 52-week low of $162.26 and a 52-week high of $224.06.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.39. The firm had revenue of $278.11 million during the quarter, compared to the consensus estimate of $251.65 million. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. On average, equities analysts anticipate that Aspen Technology will post 5.52 EPS for the current fiscal year.

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.