Aspen Technology (NASDAQ:AZPN) PT Raised to $170.00 at Robert W. Baird

Aspen Technology (NASDAQ:AZPN) had its price objective upped by stock analysts at Robert W. Baird from $145.00 to $170.00 in a research note issued on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price suggests a potential upside of 2.41% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other research firms have also recently weighed in on AZPN. JPMorgan Chase & Co. cut shares of Aspen Technology from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $156.00 to $144.00 in a research report on Thursday, August 12th. Benchmark cut shares of Aspen Technology from a “buy” rating to a “hold” rating in a research report on Thursday, August 12th. KeyCorp upped their price objective on shares of Aspen Technology from $150.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, August 12th. Finally, William Blair reaffirmed a “buy” rating on shares of Aspen Technology in a research report on Thursday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Aspen Technology has a consensus rating of “Buy” and a consensus target price of $160.00.

Shares of Aspen Technology stock opened at $166.00 on Tuesday. The firm has a 50-day moving average of $131.59 and a 200-day moving average of $138.89. The stock has a market cap of $11.13 billion, a PE ratio of 34.51, a PEG ratio of 3.84 and a beta of 1.24. Aspen Technology has a 52-week low of $108.15 and a 52-week high of $168.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.43 and a current ratio of 5.43.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, August 10th. The technology company reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.06. The company had revenue of $197.96 million during the quarter, compared to analysts’ expectations of $206.15 million. Aspen Technology had a net margin of 45.08% and a return on equity of 48.61%. Equities research analysts predict that Aspen Technology will post 4.49 earnings per share for the current fiscal year.

In other news, VP F G. Hammond sold 3,188 shares of the stock in a transaction dated Thursday, July 22nd. The shares were sold at an average price of $145.04, for a total value of $462,387.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in AZPN. FORA Capital LLC bought a new position in shares of Aspen Technology during the 1st quarter worth approximately $25,000. Ensign Peak Advisors Inc bought a new position in shares of Aspen Technology during the 1st quarter worth approximately $30,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Aspen Technology by 123.2% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 221 shares of the technology company’s stock worth $30,000 after purchasing an additional 122 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Aspen Technology in the 1st quarter worth $58,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of Aspen Technology in the 3rd quarter worth $63,000.

Aspen Technology Company Profile

Aspen Technology, Inc engages in the provision of asset optimization solutions. It develops its applications to design, and optimize processes across the engineering, manufacturing, supply chain, and asset performance management areas. The firm operates through the Subscription and Software, and Services and Other segments.

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