Loop Capital Boosts Aspen Technology (NASDAQ:AZPN) Price Target to $260.00

Aspen Technology (NASDAQ:AZPN) had its price target hoisted by Loop Capital from $204.00 to $260.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. Piper Sandler increased their price objective on Aspen Technology from $200.00 to $217.00 and gave the stock a neutral rating in a research report on Wednesday, September 18th. Robert W. Baird increased their price objective on Aspen Technology from $230.00 to $250.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. Finally, Bank of America increased their target price on Aspen Technology from $225.00 to $260.00 and gave the stock a buy rating in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Aspen Technology currently has an average rating of Moderate Buy and a consensus target price of $248.40.

Aspen Technology Trading Down 1.5 %

AZPN opened at $235.56 on Thursday. Aspen Technology has a 1-year low of $162.26 and a 1-year high of $240.82. The stock’s fifty day simple moving average is $210.72 and its 200 day simple moving average is $206.34. The stock has a market cap 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 posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.49. Aspen Technology had a positive return on equity of 2.96% and a negative net margin of 0.87%. The business had revenue of $342.91 million for the quarter, compared to analysts’ expectations of $319.10 million. During the same quarter in the prior year, the business earned $1.87 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts forecast that Aspen Technology will post 6.53 earnings per share for the current year.

Insider Activity at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total value of $219,100.00. Following the sale, the director now directly owns 8,540 shares of the company’s stock, valued at $1,871,114. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Aspen Technology

Hedge funds have recently made changes to their positions in the company. Tortoise Investment Management LLC boosted its stake in shares of Aspen Technology by 77.8% during the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after purchasing an additional 56 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Aspen Technology by 2,600.0% during the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Crewe Advisors LLC boosted its stake in shares of Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Aspen Technology during the second quarter valued at about $37,000. 45.66% of the stock is owned by institutional investors and hedge funds.

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.