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

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have earned an average rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $272.00.

AZPN has been the subject of several research reports. StockNews.com initiated coverage on Aspen Technology in a research report on Thursday. They issued a “hold” rating for the company. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $315.00 in a report on Monday, February 10th. Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price target (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. Finally, Piper Sandler boosted their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th.

Aspen Technology Price Performance

Shares of Aspen Technology stock opened at $264.33 on Tuesday. The business has a 50 day moving average of $264.40 and a 200 day moving average of $256.04. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $277.37. The company has a market cap of $16.73 billion, a PE ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts anticipate that Aspen Technology will post 6.7 earnings per share for the current year.

Institutional Trading of Aspen Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Aspen Technology by 15.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,519 shares of the technology company’s stock valued at $379,000 after buying an additional 207 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in Aspen Technology in the 4th quarter valued at approximately $2,740,000. Siemens Fonds Invest GmbH purchased a new stake in Aspen Technology during the 4th quarter valued at $2,728,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Aspen Technology in the 4th quarter worth $1,065,000. Finally, ABLE Financial Group LLC raised its stake in shares of Aspen Technology by 14.0% in the fourth quarter. ABLE Financial Group LLC now owns 7,318 shares of the technology company’s stock worth $1,827,000 after purchasing an additional 896 shares during the last quarter. 45.66% of the stock is currently owned by institutional investors.

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.