Analysts Set Aspen Technology, Inc. (NASDAQ:AZPN) Price Target at $272.00

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been given an average rating of “Hold” by the seven ratings firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $272.00.

Several brokerages recently weighed in on AZPN. Loop Capital raised shares of Aspen Technology from a “hold” rating to a “buy” rating and raised their price target for the company from $265.00 to $315.00 in a research report on Monday, February 10th. StockNews.com assumed coverage on Aspen Technology in a research note on Monday. They issued a “hold” rating for the company. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Piper Sandler boosted their target price on Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Robert W. Baird restated a “neutral” rating and set a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th.

Hedge Funds Weigh In On Aspen Technology

Several institutional investors have recently made changes to their positions in AZPN. Charles Schwab Investment Management Inc. grew its position in Aspen Technology by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 170,350 shares of the technology company’s stock valued at $42,524,000 after buying an additional 2,518 shares during the period. JPMorgan Chase & Co. grew 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 period. 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 valued at $158,318,000 after acquiring an additional 632,545 shares during the period. Atomi Financial Group Inc. purchased a new stake in shares of Aspen Technology in the 4th quarter worth $216,000. Finally, Raymond James Financial Inc. purchased a new position in Aspen Technology during the fourth quarter valued at $66,680,000. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Price Performance

Shares of AZPN opened at $264.33 on Friday. The stock has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The business’s 50 day moving average price is $264.70 and its 200-day moving average price is $252.36. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $277.37.

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

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.