Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) – Equities research analysts at KeyCorp upped their Q2 2024 earnings per share estimates for shares of Aspen Technology in a research report issued to clients and investors on Wednesday, January 25th. KeyCorp analyst J. Celino now anticipates that the technology company will post earnings of $1.67 per share for the quarter, up from their previous forecast of $1.65. KeyCorp has a "Overweight" rating and a $244.00 price objective on the stock. The consensus estimate for Aspen Technology's current full-year earnings is $6.05 per share. KeyCorp also issued estimates for Aspen Technology's Q3 2024 earnings at $1.86 EPS, Q4 2024 earnings at $2.38 EPS and FY2024 earnings at $6.52 EPS.
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Several other equities analysts also recently weighed in on AZPN. Piper Sandler dropped their target price on Aspen Technology from $240.00 to $195.00 and set a "neutral" rating for the company in a research report on Thursday. Robert W. Baird lowered their price objective on Aspen Technology from $224.00 to $202.00 and set a "neutral" rating for the company in a research report on Thursday. Loop Capital lowered their price objective on Aspen Technology from $255.00 to $230.00 in a research report on Thursday. StockNews.com began coverage on Aspen Technology in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Finally, Berenberg Bank began coverage on Aspen Technology in a research report on Wednesday, January 11th. They set a "hold" rating and a $210.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $218.50.
Aspen Technology Price Performance
NASDAQ AZPN opened at $190.75 on Monday. The company has a market cap of $12.31 billion, a P/E ratio of 179.95, a P/E/G ratio of 1.75 and a beta of 1.01. The stock has a 50-day moving average of $210.94 and a two-hundred day moving average of $218.99. Aspen Technology has a 1-year low of $135.48 and a 1-year high of $263.59.
Institutional Investors Weigh In On Aspen Technology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AZPN. Raymond James Financial Services Advisors Inc. lifted its stake in Aspen Technology by 41.2% in 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 raised its stake in shares of Aspen Technology by 8.8% during 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 during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Aspen Technology by 7.6% during 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 during the last quarter. Raymond James Trust N.A. purchased a new stake in shares of Aspen Technology during the first quarter worth approximately $222,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Aspen Technology by 1,331.8% during 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 during the last quarter. Hedge funds and other institutional investors own 44.40% of the company's stock.
Insider Buying and Selling
In related news, VP F G. Hammond sold 2,495 shares of the business'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 completion of the sale, the vice president now owns 20,152 shares in the company, valued at $4,509,010. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.
About Aspen Technology
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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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