Aspen Technology (NASDAQ:AZPN) Price Target Cut to $224.00 by Analysts at Robert W. Baird

Aspen Technology (NASDAQ:AZPN – Get Rating) had its price target decreased by Robert W. Baird from $242.00 to $224.00 in a research report released on Wednesday morning, The Fly reports.

Other equities analysts also recently issued research reports about the company. StockNews.com started coverage on Aspen Technology in a research report on Wednesday, October 12th. They set a hold rating for the company. KeyCorp raised their target price on Aspen Technology from $270.00 to $280.00 and gave the stock an overweight rating in a research report on Thursday, October 27th. Finally, Berenberg Bank started coverage on Aspen Technology in a research report on Wednesday, January 11th. They set a hold rating and a $210.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Aspen Technology currently has a consensus rating of Hold and an average price target of $234.83.

Aspen Technology Trading Down 4.6 %

Shares of AZPN stock opened at $195.20 on Wednesday. The stock has a 50 day moving average of $217.48 and a two-hundred day moving average of $218.39. Aspen Technology has a 12 month low of $135.48 and a 12 month high of $263.59. The company has a market capitalization of $12.60 billion, a P/E ratio of 65.07, a P/E/G ratio of 1.84 and a beta of 1.01.

Aspen Technology (NASDAQ:AZPN – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The technology company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.89. Aspen Technology had a return on equity of 5.75% and a net margin of 21.55%. The company had revenue of $250.82 million during the quarter, compared to the consensus estimate of $236.76 million. During the same quarter last year, the company earned $0.65 EPS. The company’s quarterly revenue was up 84.4% on a year-over-year basis. Sell-side analysts predict that Aspen Technology will post 5.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Aspen Technology

In other Aspen Technology news, VP F G. Hammond sold 2,495 shares of Aspen Technology stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $223.75, for a total value of $558,256.25. Following the completion of the transaction, the vice president now owns 20,152 shares in the company, valued at approximately $4,509,010. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Aspen Technology

Several hedge funds and other institutional investors have recently made changes to their positions in AZPN. Raymond James Financial Services Advisors Inc. increased its stake in shares of Aspen Technology by 41.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,404 shares of the technology company’s stock valued at $563,000 after buying an additional 993 shares during the period. HighTower Advisors LLC increased its stake in shares of Aspen Technology by 8.8% in the 1st quarter. HighTower Advisors LLC now owns 5,603 shares of the technology company’s stock valued at $918,000 after buying an additional 454 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Aspen Technology by 7.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 36,499 shares of the technology company’s stock valued at $6,201,000 after buying an additional 2,579 shares during the period. Raymond James Trust N.A. acquired a new stake in shares of Aspen Technology during the first quarter worth $222,000. Finally, Allianz Asset Management GmbH grew its stake in shares of Aspen Technology by 1,331.8% during the first quarter. Allianz Asset Management GmbH now owns 170,315 shares of the technology company’s stock worth $28,165,000 after purchasing an additional 158,420 shares during the period. 44.40% of the stock is owned by institutional investors and hedge funds.

About Aspen Technology

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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.