Aspen Technology, Inc. (NASDAQ:AZPN) Receives $224.50 Consensus PT from Analysts

Aspen Technology, Inc. (NASDAQ:AZPN) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $248.40.

AZPN has been the subject of several recent analyst reports. Loop Capital raised their price target on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler raised their target price on Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Bank of America upped their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Robert W. Baird increased their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th.

Aspen Technology Price Performance

NASDAQ:AZPN opened at $235.56 on Monday. The firm has a market cap of $14.92 billion, a price-to-earnings ratio of -535.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. Aspen Technology has a 1-year low of $162.26 and a 1-year high of $240.82. The firm’s fifty day moving average price is $210.72 and its 200 day moving average price is $206.34.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.49. The business had revenue of $342.91 million for the quarter, compared to analyst estimates of $319.10 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.87 earnings per share. As a group, analysts expect that Aspen Technology will post 6.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the sale, the director now directly owns 8,540 shares in the company, valued at approximately $1,871,114. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aspen Technology

Large investors have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Aspen Technology by 38.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,862 shares of the technology company’s stock valued at $110,014,000 after acquiring an additional 153,897 shares in the last quarter. Norges Bank purchased a new position in Aspen Technology in the 4th quarter valued at about $31,630,000. Dimensional Fund Advisors LP boosted its stake in shares of Aspen Technology by 26.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 524,604 shares of the technology company’s stock worth $104,199,000 after purchasing an additional 109,783 shares during the last quarter. Clean Energy Transition LLP purchased a new stake in shares of Aspen Technology during the first quarter worth about $22,110,000. Finally, Capital Research Global Investors raised its position in shares of Aspen Technology by 52.9% in the first quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock valued at $62,657,000 after buying an additional 101,586 shares during the last quarter. Institutional investors and hedge funds own 45.66% of the company’s stock.

Aspen Technology Company Profile

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.