Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $61.17.
A number of analysts have commented on AZPN shares. BidaskClub cut Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Berenberg Bank started coverage on Aspen Technology in a research report on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 price target for the company. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Wednesday, August 16th. Canaccord Genuity restated a “hold” rating on shares of Aspen Technology in a research report on Friday, August 11th. Finally, Wedbush restated a “neutral” rating and issued a $59.00 price target on shares of Aspen Technology in a research report on Wednesday, June 28th.
In related news, VP F G. Hammond sold 3,388 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total transaction of $205,312.80. Following the completion of the sale, the vice president now owns 20,733 shares in the company, valued at $1,256,419.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl E. Johnsen sold 1,969 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total value of $116,446.66. Following the sale, the insider now owns 28,530 shares of the company’s stock, valued at approximately $1,687,264.20. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. HL Financial Services LLC grew its position in shares of Aspen Technology by 0.8% during the first quarter. HL Financial Services LLC now owns 4,257 shares of the technology company’s stock worth $251,000 after purchasing an additional 33 shares in the last quarter. Amalgamated Bank grew its position in shares of Aspen Technology by 0.7% during the second quarter. Amalgamated Bank now owns 9,635 shares of the technology company’s stock worth $532,000 after purchasing an additional 69 shares in the last quarter. Stephens Inc. AR grew its position in shares of Aspen Technology by 1.0% during the first quarter. Stephens Inc. AR now owns 7,820 shares of the technology company’s stock worth $461,000 after purchasing an additional 74 shares in the last quarter. NGAM Advisors L.P. grew its position in shares of Aspen Technology by 0.7% during the second quarter. NGAM Advisors L.P. now owns 14,673 shares of the technology company’s stock worth $811,000 after purchasing an additional 101 shares in the last quarter. Finally, Renaissance Group LLC grew its position in shares of Aspen Technology by 2.5% during the second quarter. Renaissance Group LLC now owns 5,871 shares of the technology company’s stock worth $324,000 after purchasing an additional 145 shares in the last quarter.
Shares of Aspen Technology (NASDAQ AZPN) traded up 0.72% during midday trading on Friday, reaching $64.57. The company had a trading volume of 329,968 shares. Aspen Technology has a 1-year low of $44.60 and a 1-year high of $64.67. The stock has a market capitalization of $4.72 billion, a PE ratio of 30.60 and a beta of 1.26. The company’s 50-day moving average is $59.57 and its 200-day moving average is $58.67.
Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.29. Aspen Technology had a negative return on equity of 73.17% and a net margin of 33.58%. The company had revenue of $123.68 million for the quarter, compared to the consensus estimate of $119.55 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. Aspen Technology’s revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Aspen Technology will post $1.99 EPS for the current year.
About Aspen Technology
Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.
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