Aspen Technology (NASDAQ:AZPN) Price Target Lowered to $180.00 at Piper Sandler

Aspen Technology (NASDAQ:AZPN) had its target price decreased by research analysts at Piper Sandler from $196.00 to $180.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price target would suggest a potential downside of 4.65% from the stock’s previous close.

AZPN has been the subject of a number of other reports. StockNews.com upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. Robert W. Baird dropped their price target on Aspen Technology from $225.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $201.00.

Aspen Technology Stock Performance

Shares of NASDAQ AZPN opened at $188.77 on Wednesday. The business’s 50-day simple moving average is $202.39 and its 200-day simple moving average is $196.44. Aspen Technology has a 52 week low of $161.32 and a 52 week high of $224.77. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of -139.83, a P/E/G ratio of 2.05 and a beta of 0.76.

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

Institutional Investors Weigh In On Aspen Technology

A number of institutional investors have recently bought and sold shares of AZPN. Illinois Municipal Retirement Fund acquired a new stake in Aspen Technology during the first quarter valued at approximately $1,487,000. TimesSquare Capital Management LLC raised its stake in Aspen Technology by 8.1% during the first quarter. TimesSquare Capital Management LLC now owns 208,585 shares of the technology company’s stock worth $44,487,000 after acquiring an additional 15,685 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Aspen Technology during the first quarter valued at $211,000. Empowered Funds LLC boosted its stake in shares of Aspen Technology by 3.7% in the 1st quarter. Empowered Funds LLC now owns 4,108 shares of the technology company’s stock valued at $876,000 after purchasing an additional 146 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Aspen Technology by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 24,472 shares of the technology company’s stock worth $5,219,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds 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.