Brokerages Set Aspen Technology, Inc. (NASDAQ:AZPN) PT at $272.00

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

AZPN has been the topic of several recent analyst reports. Baird R W cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. StockNews.com initiated coverage on Aspen Technology in a research report on Friday. They set a “hold” rating on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 price objective (down from $275.00) on shares of Aspen Technology in a research report on Monday, January 27th. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the company from $265.00 to $315.00 in a research report on Monday, February 10th. Finally, Piper Sandler increased their price objective on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Aspen Technology in the fourth quarter worth about $26,000. Atala Financial Inc bought a new position in shares of Aspen Technology in the fourth quarter worth about $44,000. Bessemer Group Inc. raised its stake in shares of Aspen Technology by 29.7% in the fourth quarter. Bessemer Group Inc. now owns 192 shares of the technology company’s stock worth $48,000 after buying an additional 44 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Aspen Technology by 965.0% in the fourth quarter. Jones Financial Companies Lllp now owns 213 shares of the technology company’s stock worth $53,000 after buying an additional 193 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Aspen Technology by 5,700.0% in the fourth quarter. Blue Trust Inc. now owns 232 shares of the technology company’s stock worth $58,000 after buying an additional 228 shares during the period. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Performance

NASDAQ AZPN opened at $264.33 on Monday. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $277.37. The stock has a market cap of $16.73 billion, a P/E ratio of 3,304.54, a P/E/G ratio of 3.00 and a beta of 0.73. The stock’s fifty day moving average price is $261.08 and its 200-day moving average price is $248.12.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, February 4th. The technology company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.03. Aspen Technology had a return on equity of 3.17% and a net margin of 0.54%. As a group, analysts forecast that Aspen Technology will post 6.7 earnings per share for the current fiscal year.

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.