Aspen Technology (NASDAQ:AZPN) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Monday, The Fly reports.
A number of other brokerages have also commented on AZPN. BidaskClub raised shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 10th. Bank of America lowered shares of Aspen Technology from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 25th. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and issued a $83.00 price objective (up previously from $73.00) on shares of Aspen Technology in a research report on Monday, January 8th. JPMorgan Chase boosted their price objective on shares of Aspen Technology to $65.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $72.67.
Shares of AZPN stock opened at $79.23 on Monday. The firm has a market capitalization of $5,699.72, a PE ratio of 37.55, a price-to-earnings-growth ratio of 3.83 and a beta of 1.21. Aspen Technology has a 12 month low of $53.51 and a 12 month high of $84.40.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.09. The business had revenue of $124.90 million for the quarter, compared to analyst estimates of $121.81 million. Aspen Technology had a net margin of 33.23% and a negative return on equity of 61.97%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. research analysts forecast that Aspen Technology will post 1.97 EPS for the current year.
In other Aspen Technology news, Director Donald P. Casey sold 6,048 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $74.68, for a total transaction of $451,664.64. Following the sale, the director now directly owns 12,972 shares of the company’s stock, valued at $968,748.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karl E. Johnsen sold 2,304 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $75.00, for a total transaction of $172,800.00. Following the sale, the insider now directly owns 36,180 shares in the company, valued at $2,713,500. The disclosure for this sale can be found here. Insiders have sold 52,308 shares of company stock worth $3,929,379 over the last ninety days. Insiders own 0.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AZPN. Ameriprise Financial Inc. raised its position in Aspen Technology by 4.9% during the third quarter. Ameriprise Financial Inc. now owns 171,009 shares of the technology company’s stock worth $10,742,000 after acquiring an additional 7,962 shares in the last quarter. Legal & General Group Plc raised its position in Aspen Technology by 26.7% during the third quarter. Legal & General Group Plc now owns 35,757 shares of the technology company’s stock worth $2,247,000 after acquiring an additional 7,530 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Aspen Technology by 16.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 523,050 shares of the technology company’s stock worth $32,853,000 after acquiring an additional 74,218 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Aspen Technology by 8.9% during the third quarter. Envestnet Asset Management Inc. now owns 23,772 shares of the technology company’s stock worth $1,494,000 after acquiring an additional 1,938 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Aspen Technology during the third 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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