Piper Sandler Lowers Aspen Technology (NASDAQ:AZPN) Price Target to $159.00

Aspen Technology (NASDAQ:AZPNGet Rating) had its price target dropped by stock analysts at Piper Sandler from $170.00 to $159.00 in a report issued on Tuesday, The Fly reports. Piper Sandler’s price target suggests a potential downside of 4.39% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and boosted their target price for the company from $160.00 to $175.00 in a research report on Thursday, March 17th. StockNews.com upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Monday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $167.00.

NASDAQ AZPN opened at $166.30 on Tuesday. The company has a market capitalization of $11.08 billion, a PE ratio of 41.47, a P/E/G ratio of 4.14 and a beta of 1.26. The company has a fifty day moving average of $157.43 and a 200 day moving average of $151.83. Aspen Technology has a 1 year low of $122.29 and a 1 year high of $170.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.07 and a quick ratio of 4.07.

Aspen Technology (NASDAQ:AZPNGet Rating) last posted its earnings results on Wednesday, April 27th. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $187.75 million during the quarter, compared to the consensus estimate of $190.61 million. Aspen Technology had a net margin of 39.22% and a return on equity of 40.86%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. Research analysts expect that Aspen Technology will post 5.04 earnings per share for the current year.

In related news, Director Jr. Robert M. Whelan sold 4,010 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $159.07, for a total transaction of $637,870.70. Following the completion of the sale, the director now owns 12,865 shares of the company’s stock, valued at approximately $2,046,435.55. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MUFG Americas Holdings Corp grew its stake in Aspen Technology by 17.4% during the 1st quarter. MUFG Americas Holdings Corp now owns 431 shares of the technology company’s stock valued at $71,000 after acquiring an additional 64 shares in the last quarter. Roberts Wealth Advisors LLC grew its stake in shares of Aspen Technology by 0.6% in the 1st quarter. Roberts Wealth Advisors LLC now owns 11,323 shares of the technology company’s stock valued at $1,890,000 after buying an additional 68 shares during the period. Fifth Third Bancorp grew its stake in shares of Aspen Technology by 25.0% in the 4th quarter. Fifth Third Bancorp now owns 390 shares of the technology company’s stock valued at $59,000 after buying an additional 78 shares during the period. Koshinski Asset Management Inc. grew its stake in shares of Aspen Technology by 2.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 3,140 shares of the technology company’s stock valued at $519,000 after buying an additional 80 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of Aspen Technology by 37.6% in the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company’s stock valued at $48,000 after buying an additional 80 shares during the period. 96.49% of the stock is owned by institutional investors.

Aspen Technology Company Profile (Get Rating)

Aspen Technology, Inc, together with its subsidiaries, provides asset optimization solutions in North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company operates in two segments, Subscription and Software, and Services and Other. It offers asset optimization software that optimizes asset design, operations, and maintenance in various industrial environments.

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