Aspen Technology (NASDAQ:AZPN) Reaches New 12-Month High – What’s Next?

Aspen Technology, Inc. (NASDAQ:AZPN) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $250.00 and last traded at $249.55, with a volume of 96472 shares. The stock had previously closed at $248.49.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com started coverage on shares of Aspen Technology in a research note on Friday. They set a “hold” rating on the stock. Piper Sandler increased their target price on shares of Aspen Technology from $217.00 to $240.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Robert W. Baird increased their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America increased their price target on shares of Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Loop Capital increased their target price on shares of Aspen Technology from $204.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $253.00.

Aspen Technology Stock Performance

The firm has a 50-day moving average price of $238.27 and a 200-day moving average price of $217.03. The stock has a market cap of $15.82 billion, a PE ratio of -427.74, a price-to-earnings-growth ratio of 2.82 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The business had revenue of $215.90 million during the quarter, compared to analysts’ expectations of $265.04 million. During the same period last year, the firm posted $0.96 EPS. Aspen Technology’s quarterly revenue was down 13.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Aspen Technology, Inc. will post 6.68 EPS for the current fiscal year.

Insider Activity

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total value of $219,100.00. Following the sale, the director now owns 8,540 shares in the company, valued at $1,871,114. This trade represents a 10.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Aspen Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in AZPN. UniSuper Management Pty Ltd boosted its holdings in Aspen Technology by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 400 shares of the technology company’s stock worth $85,000 after acquiring an additional 200 shares in the last quarter. Capital Research Global Investors grew its holdings in Aspen Technology by 52.9% in the 1st quarter. Capital Research Global Investors now owns 293,778 shares of the technology company’s stock valued at $62,657,000 after buying an additional 101,586 shares in the last quarter. LRI Investments LLC purchased a new stake in Aspen Technology in the 1st quarter valued at $168,000. Paloma Partners Management Co purchased a new position in shares of Aspen Technology during the 1st quarter worth $219,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Aspen Technology during the 1st quarter worth $357,000. Institutional investors 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.