Aspen Technology, Inc. (NASDAQ:AZPN) Receives $272.00 Average Target Price from Analysts

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $272.00.

A number of equities analysts have commented on the company. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 27th. Piper Sandler upped their price target on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Robert W. Baird restated a “neutral” rating and issued a $265.00 price objective (down previously from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their target price for the stock from $265.00 to $315.00 in a research note on Monday, February 10th. Finally, StockNews.com assumed coverage on shares of Aspen Technology in a research note on Thursday, March 6th. They set a “hold” rating on the stock.

Aspen Technology Stock Up 0.1 %

Shares of Aspen Technology stock opened at $264.66 on Monday. Aspen Technology has a 12-month low of $171.25 and a 12-month high of $277.37. The stock has a market capitalization of $16.76 billion, a P/E ratio of 3,308.71, a price-to-earnings-growth ratio of 3.00 and a beta of 0.73. The company has a 50-day simple moving average of $260.52 and a 200 day simple moving average of $247.22.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a net margin of 0.54% and a return on equity of 3.17%. On average, equities analysts anticipate that Aspen Technology will post 6.7 earnings per share for the current year.

Hedge Funds Weigh In On Aspen Technology

Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of Aspen Technology by 89.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 363,449 shares of the technology company’s stock valued at $86,799,000 after acquiring an additional 171,351 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Aspen Technology by 31.0% in the third quarter. Brown Brothers Harriman & Co. now owns 166,352 shares of the technology company’s stock valued at $39,728,000 after purchasing an additional 39,396 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Aspen Technology by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 167,832 shares of the technology company’s stock valued at $40,082,000 after buying an additional 10,327 shares during the period. Citigroup Inc. boosted its holdings in Aspen Technology by 15.9% during the third quarter. Citigroup Inc. now owns 23,240 shares of the technology company’s stock worth $5,550,000 after buying an additional 3,186 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Aspen Technology by 37,990.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 634,210 shares of the technology company’s stock worth $158,318,000 after buying an additional 632,545 shares during the period. 45.66% of the stock is currently owned by institutional investors and hedge funds.

About Aspen Technology

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.