Aspen Technology, Inc. (AZPN) Reaches New 12-Month High at $64.38

Aspen Technology, Inc. (NASDAQ:AZPN)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $64.38 and last traded at $64.40, with a volume of 183,672 shares traded. The stock had previously closed at $63.49.

AZPN has been the topic of a number of recent research reports. Zacks Investment Research downgraded Aspen Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Berenberg Bank initiated coverage on Aspen Technology in a research report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price target on the stock. Canaccord Genuity reissued a “hold” rating and set a $60.00 price target on shares of Aspen Technology in a research report on Friday, June 9th. BidaskClub raised Aspen Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. Finally, Wedbush reissued a “neutral” rating and set a $59.00 price target on shares of Aspen Technology in a research report on Wednesday, June 28th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $61.75.

The company has a market cap of $4.72 billion, a P/E ratio of 30.60 and a beta of 1.26. The firm’s 50 day moving average price is $59.57 and its 200 day moving average price is $58.67.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Thursday, August 10th. The technology company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $123.68 million during the quarter, compared to analysts’ expectations of $119.55 million. During the same period in the previous year, the firm posted $0.44 EPS. Aspen Technology’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect that Aspen Technology, Inc. will post $1.99 EPS for the current year.

In other news, VP F G. Hammond sold 3,388 shares of the company’s 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 transaction, the vice president now directly owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Karl E. Johnsen sold 1,969 shares of the company’s 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 transaction, the insider now directly owns 28,530 shares of the company’s stock, valued at $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 company. Vanguard Group Inc. boosted its position in shares of Aspen Technology by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 7,635,099 shares of the technology company’s stock worth $449,861,000 after acquiring an additional 120,504 shares in the last quarter. BlackRock Inc. boosted its position in shares of Aspen Technology by 46,846.9% during the 1st quarter. BlackRock Inc. now owns 5,503,112 shares of the technology company’s stock worth $324,242,000 after acquiring an additional 5,491,390 shares in the last quarter. FMR LLC boosted its position in shares of Aspen Technology by 48.5% during the 1st quarter. FMR LLC now owns 4,206,339 shares of the technology company’s stock worth $247,837,000 after acquiring an additional 1,374,200 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Aspen Technology by 4.8% during the 1st quarter. Neuberger Berman Group LLC now owns 3,501,290 shares of the technology company’s stock worth $206,296,000 after acquiring an additional 160,253 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Aspen Technology by 3.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,573,161 shares of the technology company’s stock worth $151,611,000 after acquiring an additional 79,189 shares in the last quarter.

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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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