Aspen Technology, Inc. (NASDAQ:AZPN) has been given a consensus recommendation of “Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $134.14.
A number of brokerages have recently issued reports on AZPN. Canaccord Genuity raised their price objective on Aspen Technology from $110.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Wedbush restated an “outperform” rating and set a $155.00 price objective (up from $146.00) on shares of Aspen Technology in a research report on Monday. Zacks Investment Research downgraded Aspen Technology from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. raised their price objective on Aspen Technology from $114.00 to $131.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Finally, ValuEngine downgraded Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st.
Shares of AZPN traded up $0.66 during mid-day trading on Friday, reaching $132.37. 6,325 shares of the company were exchanged, compared to its average volume of 444,916. Aspen Technology has a 52 week low of $74.84 and a 52 week high of $142.15. The company has a market capitalization of $9.40 billion, a PE ratio of 35.15, a PEG ratio of 22.53 and a beta of 1.54. The stock has a 50 day simple moving average of $131.54.
Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.50. Aspen Technology had a return on equity of 60.30% and a net margin of 43.91%. The company had revenue of $195.77 million during the quarter, compared to the consensus estimate of $162.71 million. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. Equities analysts expect that Aspen Technology will post 3.09 EPS for the current fiscal year.
In related news, CFO Karl E. Johnsen sold 2,972 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $136.80, for a total transaction of $406,569.60. Following the completion of the sale, the chief financial officer now owns 22,150 shares of the company’s stock, valued at $3,030,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in shares of Aspen Technology by 0.4% during the fourth quarter. Bank of America Corp DE now owns 114,702 shares of the technology company’s stock worth $9,427,000 after purchasing an additional 504 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Aspen Technology by 8.5% during the fourth quarter. Squarepoint Ops LLC now owns 2,900 shares of the technology company’s stock worth $238,000 after purchasing an additional 227 shares during the period. First Manhattan Co. raised its holdings in shares of Aspen Technology by 102.7% during the first quarter. First Manhattan Co. now owns 4,054 shares of the technology company’s stock worth $422,000 after purchasing an additional 2,054 shares during the period. Scout Investments Inc. acquired a new stake in shares of Aspen Technology during the first quarter worth $12,684,000. Finally, BTIM Corp. raised its holdings in shares of Aspen Technology by 1.5% during the first quarter. BTIM Corp. now owns 374,609 shares of the technology company’s stock worth $39,057,000 after purchasing an additional 5,360 shares during the period. 98.28% of the stock is owned by institutional investors and hedge funds.
About Aspen Technology
Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.
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