Aspen Technology (NASDAQ:AZPN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, January 8th. The firm currently has a $81.00 target price on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 7.96% from the stock’s previous close.
According to Zacks, “Aspen Technology Inc. is a recognized expert and leading provider of award-winning process optimization software and services. AspenTech’s integrated aspenONE solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to-end throughout the engineering, plant operations, and supply chain management processes, resulting in millions of dollars in cost savings. “
Several other analysts have also issued reports on the stock. Canaccord Genuity upped their price target on shares of Aspen Technology from $62.00 to $63.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. JPMorgan Chase & Co. upped their price target on shares of Aspen Technology to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 3rd. BidaskClub lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Bank of America assumed coverage on shares of Aspen Technology in a research report on Monday, November 6th. They issued a “neutral” rating and a $67.00 price objective on the stock. Finally, Robert W. Baird set a $63.00 price target on shares of Aspen Technology and gave the company a “hold” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Aspen Technology presently has a consensus rating of “Hold” and an average target price of $66.60.
Aspen Technology (AZPN) traded down $0.09 during trading on Monday, hitting $75.03. 584,400 shares of the stock traded hands, compared to its average volume of 425,170. The firm has a market capitalization of $5,448.86, a PE ratio of 34.90 and a beta of 1.23. Aspen Technology has a 12 month low of $52.23 and a 12 month high of $76.56.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.05. The business had revenue of $122.80 million for the quarter, compared to analyst estimates of $121.73 million. Aspen Technology had a net margin of 33.35% and a negative return on equity of 66.74%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. equities research analysts predict that Aspen Technology will post 1.83 earnings per share for the current fiscal year.
In other Aspen Technology news, Director Jr. Robert M. Whelan sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.01, for a total transaction of $660,100.00. Following the completion of the transaction, the director now owns 25,559 shares in the company, valued at approximately $1,687,149.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Karl E. Johnsen sold 2,619 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $64.41, for a total transaction of $168,689.79. Following the sale, the insider now directly owns 40,063 shares of the company’s stock, valued at approximately $2,580,457.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,197 shares of company stock worth $931,360. 0.80% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Convergence Investment Partners LLC grew its position in Aspen Technology by 2.4% in the 4th quarter. Convergence Investment Partners LLC now owns 90,334 shares of the technology company’s stock valued at $5,980,000 after purchasing an additional 2,116 shares during the period. GSA Capital Partners LLP boosted its holdings in Aspen Technology by 63.8% during the 3rd quarter. GSA Capital Partners LLP now owns 28,777 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 11,213 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Aspen Technology by 7.8% during the 3rd quarter. California Public Employees Retirement System now owns 207,667 shares of the technology company’s stock worth $13,044,000 after acquiring an additional 14,967 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Aspen Technology by 2.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 38,799 shares of the technology company’s stock worth $2,437,000 after acquiring an additional 818 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Aspen Technology during the 3rd quarter worth $371,000.
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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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