Aspen Technology (NASDAQ:AZPN) Price Target Increased to $260.00 by Analysts at Loop Capital

Aspen Technology (NASDAQ:AZPN) had its price target increased by Loop Capital from $204.00 to $260.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

AZPN has been the topic of a number of other research reports. Bank of America boosted their price objective on Aspen Technology from $225.00 to $260.00 and gave the stock a buy rating in a research note on Wednesday. Piper Sandler upped their price target on shares of Aspen Technology from $200.00 to $217.00 and gave the stock a neutral rating in a research report on Wednesday. Finally, Robert W. Baird increased their price objective on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an outperform rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $248.40.

Aspen Technology Stock Down 1.5 %

Shares of Aspen Technology stock opened at $235.56 on Thursday. Aspen Technology has a 12-month low of $162.26 and a 12-month high of $240.82. The stock has a market capitalization of $14.92 billion, a P/E ratio of -535.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. The company has a 50-day simple moving average of $210.72 and a 200 day simple moving average of $206.26.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.49. The company had revenue of $342.91 million during the quarter, compared to analyst estimates of $319.10 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.87 earnings per share. On average, equities analysts anticipate that Aspen Technology will post 6.53 earnings per share for the current year.

Insider Activity

In related news, Director Jr. Robert M. Whelan sold 1,000 shares of Aspen Technology 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 completion of the sale, the director now directly owns 8,540 shares in the company, valued at $1,871,114. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aspen Technology

Institutional investors have recently modified their holdings of the business. Principal Securities Inc. bought a new position in Aspen Technology in the fourth quarter valued at approximately $73,000. Dimensional Fund Advisors LP boosted its position in shares of Aspen Technology by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock worth $68,931,000 after purchasing an additional 16,649 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Aspen Technology by 133.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,120 shares of the technology company’s stock worth $687,000 after purchasing an additional 1,785 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Aspen Technology by 2.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock worth $70,000 after purchasing an additional 735 shares during the period. Finally, Norges Bank bought a new stake in Aspen Technology in the fourth quarter valued at about $31,630,000. 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.