Aspen Technology (NASDAQ:AZPN) Price Target Increased to $230.00 by Analysts at Robert W. Baird

Aspen Technology (NASDAQ:AZPN - Free Report) had its target price lifted by Robert W. Baird from $210.00 to $230.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the technology company's stock.

Several other equities analysts also recently commented on AZPN. William Blair upgraded shares of Aspen Technology to a hold rating in a report on Tuesday, May 7th. StockNews.com upgraded Aspen Technology from a sell rating to a hold rating in a report on Wednesday, February 7th. Finally, Piper Sandler dropped their price target on Aspen Technology from $196.00 to $180.00 and set a neutral rating for the company in a report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $207.67.

Aspen Technology Stock Up 5.9 %

Shares of NASDAQ AZPN traded up $12.24 during midday trading on Wednesday, hitting $221.30. 402,094 shares of the company's stock were exchanged, compared to its average volume of 217,394. Aspen Technology has a 12 month low of $161.32 and a 12 month high of $224.77. The company's 50 day moving average price is $204.05 and its 200 day moving average price is $197.56. The firm has a market capitalization of $14.01 billion, a PE ratio of -502.94, a price-to-earnings-growth ratio of 2.59 and a beta of 0.76.

Institutional Trading of Aspen Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. grew its position in Aspen Technology by 561.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company's stock worth $48,000 after acquiring an additional 191 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Aspen Technology by 2.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company's stock valued at $70,000 after buying an additional 735 shares during the last quarter. Fifth Third Bancorp boosted its position in Aspen Technology by 94.4% during the 3rd quarter. Fifth Third Bancorp now owns 350 shares of the technology company's stock worth $71,000 after buying an additional 170 shares during the period. Principal Securities Inc. bought a new stake in Aspen Technology during the 4th quarter worth approximately $73,000. Finally, UniSuper Management Pty Ltd raised its stake in shares of Aspen Technology by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 400 shares of the technology company's stock valued at $85,000 after acquiring an additional 200 shares during the last quarter. Institutional investors 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.