Aspen Technology (NASDAQ:AZPN – Get Rating) had its target price boosted by Piper Sandler from $189.00 to $240.00 in a research report report published on Monday morning, The Fly reports. Piper Sandler currently has a neutral rating on the technology company's stock.
AZPN has been the topic of several other reports. Loop Capital lifted their price objective on Aspen Technology from $175.00 to $225.00 and gave the stock a buy rating in a report on Wednesday, June 15th. Bank of America lifted their price objective on Aspen Technology from $176.00 to $230.00 and gave the stock a buy rating in a report on Monday, June 6th. StockNews.com upgraded Aspen Technology from a sell rating to a hold rating in a report on Tuesday, July 12th. Wolfe Research started coverage on Aspen Technology in a report on Tuesday, August 16th. They set a market perform rating on the stock. Finally, Robert W. Baird boosted their target price on Aspen Technology to $182.00 in a report on Monday, August 15th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $217.40.
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Aspen Technology Price Performance
NASDAQ:AZPN opened at $231.01 on Monday. Aspen Technology has a 52 week low of $122.29 and a 52 week high of $231.26. The company has a quick ratio of 4.07, a current ratio of 3.47 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $14.98 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 2.02 and a beta of 1.19. The stock's 50-day moving average price is $206.36 and its 200-day moving average price is $184.42.
Aspen Technology (NASDAQ:AZPN – Get Rating) last posted its quarterly earnings data on Monday, August 8th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.36. Aspen Technology had a return on equity of 8.23% and a net
margin of 31.82%. The company had revenue of $238.90 million for the quarter, compared to analysts' expectations of $293.17 million. During the same period in the previous year, the firm posted $1.43 EPS. Aspen Technology's revenue was up 20.7% compared to the same quarter last year. As a group, equities analysts expect that Aspen Technology will post 6.16 EPS for the current fiscal year.
Insider Activity
In other news, VP F G. Hammond sold 4,262 shares of Aspen Technology stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $211.57, for a total transaction of $901,711.34. Following the sale, the vice president now owns 20,606 shares of the company's stock, valued at approximately $4,359,611.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.
Institutional Trading of Aspen Technology
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Aspen Technology by 6.5% during the 1st quarter. BlackRock Inc. now owns 6,645,133 shares of the technology company's stock valued at $1,098,905,000 after buying an additional 407,220 shares during the period. Vanguard Group Inc. raised its position in Aspen Technology by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,336,062 shares of the technology company's stock valued at $1,047,795,000 after purchasing an additional 51,393 shares during the period. Standard Investments LLC raised its position in Aspen Technology by 22.2% in the fourth quarter. Standard Investments LLC now owns 2,439,000 shares of the technology company's stock valued at $371,216,000 after purchasing an additional 443,000 shares during the period. FMR LLC raised its position in Aspen Technology by 1.0% in the second quarter. FMR LLC now owns 2,126,791 shares of the technology company's stock valued at $390,648,000 after purchasing an additional 20,536 shares during the period. Finally, State Street Corp raised its position in Aspen Technology by 2.1% in the first quarter. State Street Corp now owns 1,812,165 shares of the technology company's stock valued at $299,678,000 after purchasing an additional 36,999 shares during the period. Hedge funds and other institutional investors own 93.73% of the company's stock.
Aspen Technology Company Profile
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Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.
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