Piper Sandler Forecasts Strong Price Appreciation for Aspen Technology (NASDAQ:AZPN) Stock

Aspen Technology (NASDAQ:AZPN) had its target price increased by Piper Sandler from $217.00 to $240.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other analysts also recently issued reports on AZPN. Robert W. Baird lifted their target price on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Bank of America boosted their target price on shares of Aspen Technology from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Loop Capital lifted their target price on Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Aspen Technology has an average rating of “Moderate Buy” and an average target price of $253.00.

Aspen Technology Trading Up 1.4 %

Aspen Technology stock opened at $241.00 on Tuesday. The business’s fifty day simple moving average is $233.69 and its two-hundred day simple moving average is $213.24. Aspen Technology has a 12 month low of $162.26 and a 12 month high of $248.00. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of -1,506.16, a price-to-earnings-growth ratio of 2.73 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The business had revenue of $215.90 million for the quarter, compared to the consensus estimate of $265.04 million. During the same period in the previous year, the firm earned $0.96 EPS. The company’s revenue was down 13.4% on a year-over-year basis. On average, equities research analysts predict that Aspen Technology will post 6.53 EPS for the current year.

Insider Activity at Aspen Technology

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $219.10, for a total value of $219,100.00. Following the transaction, the director now owns 8,540 shares in the company, valued at approximately $1,871,114. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Tortoise Investment Management LLC increased its holdings in Aspen Technology by 77.8% in the second quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. Mather Group LLC. increased its stake in shares of Aspen Technology by 2,600.0% in the 2nd 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 raised its holdings in Aspen Technology by 313.2% in the 2nd quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares during the period. GAMMA Investing LLC boosted its position in Aspen Technology by 65.7% during the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Aspen Technology in the second quarter valued at approximately $37,000. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

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.