Aspen Technology (NASDAQ:AZPN) Given New $210.00 Price Target at Robert W. Baird

Aspen Technology (NASDAQ:AZPN) had its target price decreased by Robert W. Baird from $225.00 to $210.00 in a research note published on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. StockNews.com raised Aspen Technology from a sell rating to a hold rating in a research report on Wednesday, February 7th. Piper Sandler reaffirmed a neutral rating and issued a $196.00 price target on shares of Aspen Technology in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $201.00.

Aspen Technology Price Performance

Aspen Technology stock opened at $197.79 on Wednesday. Aspen Technology has a one year low of $161.32 and a one year high of $224.77. The company’s fifty day moving average price is $202.53 and its two-hundred day moving average price is $196.45. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of -146.51, a PEG 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, sell-side analysts anticipate that Aspen Technology will post 5.82 earnings per share for the current year.

Hedge Funds Weigh In On Aspen Technology

Several large investors have recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Aspen Technology by 3.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,721,956 shares of the technology company’s stock worth $760,247,000 after buying an additional 124,934 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Aspen Technology by 12.9% during the 3rd quarter. Nordea Investment Management AB now owns 1,044,959 shares of the technology company’s stock valued at $215,920,000 after acquiring an additional 119,102 shares in the last quarter. Wellington Management Group LLP increased its stake in Aspen Technology by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 612,024 shares of the technology company’s stock valued at $134,737,000 after acquiring an additional 44,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Aspen Technology by 2.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 415,662 shares of the technology company’s stock worth $91,508,000 after purchasing an additional 8,856 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Aspen Technology by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 313,105 shares of the technology company’s stock worth $68,931,000 after purchasing an additional 16,649 shares during the period. 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.