Aspen Technology (NASDAQ:AZPN) PT Lowered to $180.00

Aspen Technology (NASDAQ:AZPN) had its target price reduced by stock analysts at Piper Sandler from $196.00 to $180.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s target price indicates a potential downside of 12.60% from the company’s previous close.

AZPN has been the topic of several other research reports. Robert W. Baird lowered their price objective on shares of Aspen Technology from $225.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $201.00.

Aspen Technology Stock Performance

Shares of AZPN stock opened at $205.94 on Wednesday. Aspen Technology has a 1 year low of $161.32 and a 1 year high of $224.77. The business’s fifty day moving average is $202.77 and its 200-day moving average is $196.51. The stock has a market cap of $13.09 billion, a PE ratio of -152.55, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.06). Aspen Technology had a positive return on equity of 2.38% and a negative net margin of 8.17%. The business had revenue of $257.16 million during the quarter, compared to the consensus estimate of $259.70 million. Equities research analysts predict that Aspen Technology will post 5.82 earnings per share for the current year.

Institutional Trading of Aspen Technology

A number of hedge funds have recently bought and sold shares of AZPN. Park Avenue Securities LLC purchased a new position in shares of Aspen Technology in the third quarter worth approximately $390,000. TIAA Trust National Association purchased a new position in Aspen Technology during the 3rd quarter worth approximately $246,000. Assetmark Inc. grew its position in Aspen Technology by 15.1% during the 3rd quarter. Assetmark Inc. now owns 2,033 shares of the technology company’s stock worth $415,000 after purchasing an additional 266 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in Aspen Technology by 25.3% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 2,335 shares of the technology company’s stock valued at $477,000 after purchasing an additional 471 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Aspen Technology by 94.4% in the third quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock valued at $71,000 after purchasing an additional 170 shares in the last quarter. 45.66% of the stock is 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.