Piper Sandler Issues Positive Forecast for Aspen Technology (NASDAQ:AZPN) Stock Price

Aspen Technology (NASDAQ:AZPN) had its target price boosted by equities research analysts at Piper Sandler from $240.00 to $265.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s target price would suggest a potential upside of 0.38% from the company’s previous close.

A number of other research firms have also recently commented on AZPN. Robert W. Baird restated a “neutral” rating and issued a $265.00 target price (down previously from $275.00) on shares of Aspen Technology in a research note on Monday. Berenberg Bank cut shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, StockNews.com started coverage on shares of Aspen Technology in a research note on Saturday. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Aspen Technology currently has a consensus rating of “Hold” and a consensus price target of $261.00.

Aspen Technology Price Performance

Shares of AZPN opened at $264.00 on Monday. Aspen Technology has a 1 year low of $171.25 and a 1 year high of $264.43. The stock has a 50 day simple moving average of $251.28 and a two-hundred day simple moving average of $233.27. The firm has a market cap of $16.70 billion, a P/E ratio of -455.17, a P/E/G ratio of 2.94 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Monday, November 4th. The technology company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.39 by ($0.54). The firm had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.96 earnings per share. On average, equities analysts anticipate that Aspen Technology will post 6.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Commerce Bank lifted its holdings in shares of Aspen Technology by 3.1% in the 3rd quarter. Commerce Bank now owns 1,550 shares of the technology company’s stock valued at $370,000 after acquiring an additional 47 shares during the last quarter. Heritage Family Offices LLP lifted its stake in shares of Aspen Technology by 2.8% in the 4th quarter. Heritage Family Offices LLP now owns 1,725 shares of the technology company’s stock valued at $431,000 after purchasing an additional 47 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Aspen Technology by 0.4% in the 3rd quarter. US Bancorp DE now owns 13,695 shares of the technology company’s stock worth $3,271,000 after purchasing an additional 50 shares during the period. State of Alaska Department of Revenue increased its position in shares of Aspen Technology by 1.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,084 shares of the technology company’s stock valued at $736,000 after purchasing an additional 55 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Aspen Technology by 30.1% during the 4th quarter. GAMMA Investing LLC now owns 251 shares of the technology company’s stock valued at $63,000 after buying an additional 58 shares during the period. 45.66% of the stock is owned by hedge funds and other 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.