Aspen Technology’s (AZPN) “Outperform” Rating Reaffirmed at Robert W. Baird

Robert W. Baird reiterated their outperform rating on shares of Aspen Technology (NASDAQ:AZPN) in a research report released on Friday morning, Benzinga reports. The firm currently has a $230.00 target price on the technology company’s stock.

AZPN has been the subject of several other research reports. Berenberg Bank upgraded Aspen Technology from a hold rating to a buy rating and increased their price objective for the stock from $185.00 to $255.00 in a report on Friday, May 17th. Piper Sandler dropped their price objective on Aspen Technology from $196.00 to $180.00 and set a neutral rating for the company in a report on Wednesday, May 8th. Finally, William Blair upgraded Aspen Technology to a hold rating in a report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $219.50.

Aspen Technology Price Performance

Shares of NASDAQ AZPN opened at $196.20 on Friday. Aspen Technology has a one year low of $161.32 and a one year high of $224.77. The business’s fifty day moving average price is $206.18 and its 200-day moving average price is $202.93. The stock has a market capitalization of $12.43 billion, a PE ratio of -445.90, a P/E/G ratio of 2.50 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.39. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The firm had revenue of $278.11 million for the quarter, compared to analysts’ expectations of $251.65 million. As a group, equities analysts expect that Aspen Technology will post 5.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Aspen Technology

Several large investors have recently made changes to their positions in AZPN. DekaBank Deutsche Girozentrale lifted its position in shares of Aspen Technology by 1,034.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after buying an additional 35,056 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Aspen Technology in the first quarter worth about $262,000. LRI Investments LLC purchased a new stake in shares of Aspen Technology in the first quarter worth about $168,000. Tidal Investments LLC lifted its position in shares of Aspen Technology by 53.4% in the first quarter. Tidal Investments LLC now owns 1,691 shares of the technology company’s stock worth $361,000 after buying an additional 589 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Aspen Technology by 89.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock worth $432,000 after buying an additional 998 shares in the last quarter. 45.66% of the stock is currently owned by hedge funds and other institutional investors.

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.