Aspen Technology, Inc. (NASDAQ:AZPN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $248.40.

A number of research firms have issued reports on AZPN. Robert W. Baird lifted their target price on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Loop Capital lifted their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler upped their price objective on shares of Aspen Technology from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Bank of America raised their target price on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday.

Insider Activity at Aspen Technology

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total transaction of $219,100.00. Following the completion of the transaction, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. LRI Investments LLC boosted its position in shares of Aspen Technology by 6.7% in the second quarter. LRI Investments LLC now owns 862 shares of the technology company’s stock valued at $171,000 after acquiring an additional 54 shares during the period. Tortoise Investment Management LLC grew its position in Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock worth $25,000 after purchasing an additional 56 shares during the last quarter. OFI Invest Asset Management grew its position in Aspen Technology by 7.4% in the 2nd quarter. OFI Invest Asset Management now owns 872 shares of the technology company’s stock worth $162,000 after purchasing an additional 60 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Aspen Technology by 4.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,536 shares of the technology company’s stock worth $305,000 after purchasing an additional 60 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC raised its position in shares of Aspen Technology by 2.5% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 2,654 shares of the technology company’s stock valued at $527,000 after buying an additional 65 shares during the last quarter. 45.66% of the stock is owned by institutional investors.

Aspen Technology Trading Down 1.5 %

NASDAQ AZPN opened at $235.56 on Monday. Aspen Technology has a 1-year low of $162.26 and a 1-year high of $240.82. The firm’s fifty day simple moving average is $210.72 and its 200-day simple moving average is $206.16. The company has a market capitalization of $14.92 billion, a PE ratio of -535.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75.

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

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.