Aspen Technology (NASDAQ:AZPN – Get Rating) had its target price decreased by stock analysts at Loop Capital from $255.00 to $230.00 in a research report issued on Thursday, The Fly reports. Loop Capital's price target points to a potential upside of 20.58% from the company's current price.
Other research analysts have also recently issued reports about the stock. KeyCorp decreased their price objective on shares of Aspen Technology from $280.00 to $244.00 and set an "overweight" rating on the stock in a research report on Thursday. Berenberg Bank started coverage on shares of Aspen Technology in a research note on Wednesday, January 11th. They set a "hold" rating and a $210.00 price objective on the stock. Robert W. Baird dropped their target price on shares of Aspen Technology from $224.00 to $202.00 and set a "neutral" rating on the stock in a research note on Thursday. StockNews.com began coverage on shares of Aspen Technology in a research report on Wednesday, October 12th. They set a "hold" rating on the stock. Finally, Piper Sandler reduced their target price on shares of Aspen Technology from $240.00 to $195.00 and set a "neutral" rating for the company in a report on Thursday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $218.50.
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Aspen Technology Trading Up 0.5 %
Shares of Aspen Technology stock opened at $190.75 on Thursday. The company has a 50 day moving average of $210.94 and a 200-day moving average of $218.44. Aspen Technology has a 1-year low of $135.48 and a 1-year high of $263.59. The company has a market cap of $12.31 billion, a PE ratio of 179.95, a price-to-earnings-growth ratio of 1.78 and a beta of 1.01.
Aspen Technology (NASDAQ:AZPN – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The technology company reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.89. The company had revenue of $250.82 million during the quarter, compared to the consensus estimate of $236.76 million. Aspen Technology had a net
margin of 5.96% and a return on equity of 3.64%. The firm's quarterly revenue was up 84.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.65 EPS. Research analysts forecast that Aspen Technology will post 5.99 earnings per share for the current year.
Insider Buying and Selling at Aspen Technology
In other news, VP F G. Hammond sold 2,495 shares of the company's stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $223.75, for a total transaction of $558,256.25. Following the transaction, the vice president now owns 20,152 shares of the company's stock, valued at $4,509,010. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of AZPN. Raymond James Financial Services Advisors Inc. grew its stake in shares of Aspen Technology by 41.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 3,404 shares of the technology company's stock valued at $563,000 after buying an additional 993 shares during the last quarter. HighTower Advisors LLC grew its stake in Aspen Technology by 8.8% in the first quarter. HighTower Advisors LLC now owns 5,603 shares of the technology company's stock worth $918,000 after purchasing an additional 454 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Aspen Technology by 7.6% in the first quarter. Great West Life Assurance Co. Can now owns 36,499 shares of the technology company's stock worth $6,201,000 after purchasing an additional 2,579 shares in the last quarter. Raymond James Trust N.A. bought a new position in Aspen Technology in the first quarter worth approximately $222,000. Finally, Allianz Asset Management GmbH grew its stake in Aspen Technology by 1,331.8% in the first quarter. Allianz Asset Management GmbH now owns 170,315 shares of the technology company's stock worth $28,165,000 after purchasing an additional 158,420 shares in the last quarter. Institutional investors own 44.40% 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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