Aspen Technology (NASDAQ:AZPN) PT Lowered to $210.00

Aspen Technology (NASDAQ:AZPN) had its price objective decreased by Robert W. Baird from $225.00 to $210.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target suggests a potential upside of 11.25% from the company’s previous close.

A number of other equities research analysts have also weighed in on AZPN. StockNews.com raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Piper Sandler restated a “neutral” rating and set a $196.00 price objective on shares of Aspen Technology in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Aspen Technology currently has an average rating of “Hold” and an average target price of $201.00.

Aspen Technology Trading Down 4.4 %

Shares of NASDAQ AZPN opened at $188.77 on Wednesday. The stock has a fifty day moving average price of $202.39 and a 200 day moving average price of $196.44. Aspen Technology has a 12-month low of $161.32 and a 12-month high of $224.77. The company has a market cap of $12.00 billion, a P/E ratio of -139.83, a P/E/G ratio of 2.05 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). The company had revenue of $257.16 million during the quarter, compared to analyst estimates of $259.70 million. Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. On average, sell-side analysts forecast that Aspen Technology will post 5.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AZPN. Benjamin F. Edwards & Company Inc. boosted its holdings in Aspen Technology by 561.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock worth $48,000 after purchasing an additional 191 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Aspen Technology by 2.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock valued at $70,000 after buying an additional 735 shares during the period. Fifth Third Bancorp grew its position in shares of Aspen Technology by 94.4% during the 3rd quarter. Fifth Third Bancorp now owns 350 shares of the technology company’s stock valued at $71,000 after buying an additional 170 shares during the last quarter. Principal Securities Inc. acquired a new stake in Aspen Technology during the fourth quarter worth about $73,000. Finally, Signaturefd LLC lifted its holdings in Aspen Technology by 152.3% in the third quarter. Signaturefd LLC now owns 497 shares of the technology company’s stock worth $102,000 after acquiring an additional 300 shares during the last quarter. 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.