Aspen Technology (NASDAQ:AZPN) Price Target Increased to $250.00 by Analysts at Robert W. Baird

Aspen Technology (NASDAQ:AZPN) had its price objective hoisted by stock analysts at Robert W. Baird from $230.00 to $250.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target points to a potential upside of 19.63% from the stock’s current price.

Several other equities research analysts also recently commented on AZPN. Berenberg Bank upgraded Aspen Technology from a “hold” rating to a “buy” rating and raised their target price for the company from $185.00 to $255.00 in a report on Friday, May 17th. Piper Sandler dropped their target price on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Finally, William Blair upgraded Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $224.50.

Aspen Technology Trading Up 17.5 %

Shares of Aspen Technology stock traded up $31.14 during trading hours on Wednesday, reaching $208.98. The stock had a trading volume of 175,224 shares, compared to its average volume of 204,041. The firm has a 50 day simple moving average of $195.98 and a two-hundred day simple moving average of $199.26. The firm has a market capitalization of $13.23 billion, a price-to-earnings ratio of -475.84, a P/E/G ratio of 2.26 and a beta of 0.73. Aspen Technology has a 1 year low of $162.26 and a 1 year high of $224.06.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.49. The company had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $1.87 EPS. Sell-side analysts forecast that Aspen Technology will post 5.52 EPS for the current year.

Institutional Investors Weigh In On Aspen Technology

Hedge funds have recently bought and sold shares of the business. Tortoise Investment Management LLC grew its stake in Aspen Technology by 77.8% during the 2nd 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. grew its position 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 worth $29,000 after acquiring an additional 130 shares in the last quarter. Crewe Advisors LLC grew its position in shares of 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 acquiring an additional 119 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Aspen Technology by 65.7% in the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Aspen Technology in the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 45.66% of the company’s stock.

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.