Aspen Technology (AZPN) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Aspen Technology (NASDAQ:AZPN) from a buy rating to a hold rating in a research note released on Tuesday.

According to Zacks, “Aspen Technology Inc. is a recognized expert and leading provider of award-winning assett 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 AZPN. BidaskClub lowered shares of Aspen Technology from a strong-buy rating to a buy rating in a research report on Friday, June 22nd. ValuEngine upgraded shares of Aspen Technology from a buy rating to a strong-buy rating in a research report on Thursday, May 3rd. Wedbush lifted their target price on shares of Aspen Technology from $74.00 to $80.00 and gave the company a neutral rating in a research report on Thursday, April 26th. KeyCorp lifted their target price on shares of Aspen Technology from $88.00 to $100.00 and gave the company an overweight rating in a research report on Thursday, April 26th. Finally, Berenberg Bank lifted their target price on shares of Aspen Technology to $98.00 and gave the company a buy rating in a research report on Thursday, April 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Aspen Technology has a consensus rating of Hold and a consensus target price of $83.88.

Shares of Aspen Technology opened at $94.26 on Tuesday, according to MarketBeat. Aspen Technology has a 52-week low of $53.51 and a 52-week high of $99.86. The stock has a market capitalization of $6.63 billion, a PE ratio of 41.42, a P/E/G ratio of 4.49 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Wednesday, April 25th. The technology company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. Aspen Technology had a net margin of 33.19% and a negative return on equity of 61.04%. The business had revenue of $125.87 million for the quarter, compared to analyst estimates of $121.94 million. During the same quarter last year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. sell-side analysts forecast that Aspen Technology will post 2.04 EPS for the current year.

In related news, insider Karl E. Johnsen sold 7,559 shares of the business’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $89.17, for a total transaction of $674,036.03. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP F G. Hammond sold 16,024 shares of the business’s stock in a transaction dated Thursday, May 3rd. The stock was sold at an average price of $88.00, for a total transaction of $1,410,112.00. Following the transaction, the vice president now owns 29,113 shares in the company, valued at $2,561,944. The disclosure for this sale can be found here. Insiders have sold 25,183 shares of company stock worth $2,225,566 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of AZPN. Mckinley Capital Management LLC Delaware acquired a new position in Aspen Technology during the first quarter worth about $134,000. Sciencast Management LP acquired a new position in Aspen Technology during the first quarter worth about $200,000. CIBC Asset Management Inc acquired a new position in Aspen Technology during the first quarter worth about $203,000. Zeke Capital Advisors LLC acquired a new position in Aspen Technology during the fourth quarter worth about $204,000. Finally, Tocqueville Asset Management L.P. acquired a new position in Aspen Technology during the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 98.08% of the company’s stock.

Aspen Technology Company Profile

Aspen Technology, Inc, together with its subsidiaries, provides software and services in the United States, Europe, and internationally. It 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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