Piper Sandler Boosts Aspen Technology (NASDAQ:AZPN) Price Target to $240.00

Aspen Technology (NASDAQ:AZPN - Get Rating) had its price target lifted by stock analysts at Piper Sandler from $189.00 to $240.00 in a research note issued to investors on Monday, The Fly reports. Piper Sandler's price objective indicates a potential upside of 6.02% from the stock's current price.

Several other equities research analysts also recently commented on the company. Wolfe Research initiated coverage on Aspen Technology in a report on Tuesday, August 16th. They set a "market perform" rating for the company. Loop Capital boosted their price objective on Aspen Technology from $175.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, June 15th. StockNews.com upgraded Aspen Technology from a "sell" rating to a "hold" rating in a report on Tuesday, July 12th. Bank of America boosted their price objective on Aspen Technology from $176.00 to $230.00 and gave the company a "buy" rating in a report on Monday, June 6th. Finally, KeyCorp upped their price target on Aspen Technology from $175.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, July 8th. 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 currently has a consensus rating of "Hold" and an average price target of $217.40.

Aspen Technology Trading Up 1.5 %

Shares of AZPN stock opened at $226.37 on Monday. The company has a market cap of $14.68 billion, a P/E ratio of 60.37, a PEG ratio of 2.02 and a beta of 1.19. The stock has a 50 day simple moving average of $205.51 and a two-hundred day simple moving average of $183.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.07 and a current ratio of 3.47. Aspen Technology has a fifty-two week low of $122.29 and a fifty-two week high of $229.60.

Aspen Technology (NASDAQ:AZPN - Get Rating) last issued its earnings results on Monday, August 8th. The technology company reported $2.43 earnings per share for the quarter, topping analysts' consensus estimates of $2.07 by $0.36. The business had revenue of $238.90 million during the quarter, compared to the consensus estimate of $293.17 million. Aspen Technology had a return on equity of 8.23% and a net margin of 31.82%. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. Research analysts forecast that Aspen Technology will post 6.16 earnings per share for the current year.

Insiders Place Their Bets

In other Aspen Technology news, VP F G. Hammond sold 4,262 shares of the business's stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $211.57, for a total value of $901,711.34. Following the transaction, the vice president now owns 20,606 shares of the company's stock, valued at $4,359,611.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AZPN. Standard Investments LLC lifted its position in shares of Aspen Technology by 22.2% during the 4th quarter. Standard Investments LLC now owns 2,439,000 shares of the technology company's stock valued at $371,216,000 after buying an additional 443,000 shares during the last quarter. BlackRock Inc. lifted its position in shares of Aspen Technology by 6.5% during the 1st quarter. BlackRock Inc. now owns 6,645,133 shares of the technology company's stock valued at $1,098,905,000 after buying an additional 407,220 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Aspen Technology by 96.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 527,069 shares of the technology company's stock valued at $87,161,000 after buying an additional 258,347 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Aspen Technology by 146.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 419,868 shares of the technology company's stock valued at $77,121,000 after buying an additional 249,553 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Aspen Technology by 124.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 305,547 shares of the technology company's stock valued at $46,504,000 after buying an additional 169,290 shares during the last quarter. Hedge funds and other institutional investors own 93.73% of the company's stock.

Aspen Technology Company Profile

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Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.

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