Aspen Technology (NASDAQ:AZPN – Get Rating) updated its FY23 earnings guidance on Monday. The company provided EPS guidance of $6.40-$6.89 for the period, compared to the consensus EPS estimate of $6.55. The company issued revenue guidance of $1.14-$1.20 billion, compared to the consensus revenue estimate of $1.17 billion.
Wall Street Analysts Forecast Growth
AZPN has been the topic of several research reports. KeyCorp boosted their target price on Aspen Technology from $175.00 to $210.00 and gave the company an overweight rating in a research note on Friday, July 8th. Bank of America boosted their target price on Aspen Technology from $176.00 to $230.00 and gave the company a buy rating in a research note on Monday, June 6th. Loop Capital boosted their target price on Aspen Technology from $175.00 to $225.00 and gave the company a buy rating in a research note on Wednesday, June 15th. TheStreet cut Aspen Technology from a b rating to a c+ rating in a research note on Tuesday, May 17th. Finally, Piper Sandler boosted their target price on Aspen Technology from $159.00 to $189.00 and gave the company a neutral rating in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $193.33.
Aspen Technology Stock Performance
NASDAQ AZPN traded down $5.54 on Tuesday, reaching $202.01. The stock had a trading volume of 6,549 shares, compared to its average volume of 122,903. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.07 and a quick ratio of 4.07. The firm has a fifty day moving average of $192.66 and a two-hundred day moving average of $169.29. Aspen Technology has a 1-year low of $122.29 and a 1-year high of $216.15. The company has a market cap of $13.10 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 2.38 and a beta of 1.21.
Insider Buying and Selling at Aspen Technology
Institutional Trading of Aspen Technology
Several large investors have recently modified their holdings of AZPN. Raymond James Financial Services Advisors Inc. lifted its position in shares of Aspen Technology by 41.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,404 shares of the technology company’s stock worth $563,000 after buying an additional 993 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Aspen Technology by 8.8% during the 1st quarter. HighTower Advisors LLC now owns 5,603 shares of the technology company’s stock worth $918,000 after buying an additional 454 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Aspen Technology by 7.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 36,499 shares of the technology company’s stock worth $6,201,000 after buying an additional 2,579 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of Aspen Technology during the 1st quarter worth $222,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Aspen Technology by 1,331.8% during the 1st quarter. Allianz Asset Management GmbH now owns 170,315 shares of the technology company’s stock worth $28,165,000 after buying an additional 158,420 shares during the last quarter. 96.49% of the stock is owned by institutional investors and hedge funds.
About Aspen Technology
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 serves bulk chemicals, consumer packaged goods, downstream, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, upstream, and water and wastewater industries; power generation, transmission, and distribution industries; and engineering, procurement, and construction industries.
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