Aspen Technology (NASDAQ:AZPN) PT Raised to $260.00 at Loop Capital

Aspen Technology (NASDAQ:AZPN) had its target price boosted by equities research analysts at Loop Capital from $204.00 to $260.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Loop Capital’s price target points to a potential upside of 10.38% from the company’s previous close.

AZPN has been the topic of several other reports. Piper Sandler increased their target price on Aspen Technology from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday. Bank of America increased their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird boosted their target price on Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Aspen Technology presently has a consensus rating of “Moderate Buy” and an average target price of $248.40.

Aspen Technology Trading Down 1.5 %

NASDAQ AZPN opened at $235.56 on Thursday. Aspen Technology has a 12 month low of $162.26 and a 12 month high of $240.82. The stock’s fifty day moving average price is $210.72 and its 200-day moving average price is $206.16. The stock has a market cap of $14.92 billion, a P/E ratio of -535.36, a P/E/G ratio of 2.63 and a beta of 0.75.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Tuesday, August 6th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $1.88 by $0.49. The company had revenue of $342.91 million for the quarter, compared to the consensus estimate of $319.10 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. Aspen Technology’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.87 EPS. As a group, analysts forecast that Aspen Technology will post 6.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total value of $219,100.00. Following the transaction, the director now owns 8,540 shares of the company’s stock, valued at $1,871,114. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tortoise Investment Management LLC lifted its position in shares of Aspen Technology by 77.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after buying an additional 56 shares in the last quarter. Mather Group LLC. boosted its position in shares of Aspen Technology by 2,600.0% in the second quarter. Mather Group LLC. now owns 135 shares of the technology company’s stock worth $29,000 after purchasing an additional 130 shares during the period. Crewe Advisors LLC increased its stake in shares of Aspen Technology by 313.2% in the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock worth $31,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Aspen Technology by 65.7% during the 2nd quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Aspen Technology during the 2nd quarter valued at $37,000. 45.66% of the stock is currently owned by 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.