Aspen Technology (NASDAQ:AZPN) Given New $180.00 Price Target at Piper Sandler

Aspen Technology (NASDAQ:AZPN) had its target price lowered by Piper Sandler from $196.00 to $180.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

AZPN has been the topic of several other reports. StockNews.com raised Aspen Technology from a sell rating to a hold rating in a research report on Wednesday, February 7th. Robert W. Baird decreased their price target on Aspen Technology from $225.00 to $210.00 and set an outperform rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Aspen Technology presently has an average rating of Hold and a consensus price target of $201.00.

Aspen Technology Price Performance

AZPN opened at $197.79 on Wednesday. Aspen Technology has a 1 year low of $161.32 and a 1 year high of $224.77. The stock has a 50-day moving average price of $202.53 and a 200-day moving average price of $196.45. The firm has a market cap of $12.57 billion, a PE ratio of -146.51, a P/E/G ratio of 2.05 and a beta of 0.76.

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

Institutional Investors Weigh In On Aspen Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in Aspen Technology by 3.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,721,956 shares of the technology company’s stock valued at $760,247,000 after buying an additional 124,934 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Aspen Technology by 12.9% in the third quarter. Nordea Investment Management AB now owns 1,044,959 shares of the technology company’s stock worth $215,920,000 after acquiring an additional 119,102 shares during the period. Wellington Management Group LLP grew its holdings in shares of Aspen Technology by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 612,024 shares of the technology company’s stock worth $134,737,000 after acquiring an additional 44,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Aspen Technology by 2.2% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 415,662 shares of the technology company’s stock valued at $91,508,000 after acquiring an additional 8,856 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Aspen Technology by 5.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock valued at $68,931,000 after acquiring an additional 16,649 shares during the period. Hedge funds and other institutional investors own 45.66% of the company’s stock.

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.