Aspen Technology (NASDAQ:AZPN) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.
A number of other analysts have also weighed in on AZPN. Benchmark reissued a “buy” rating and set a $110.00 price objective on shares of Aspen Technology in a research note on Thursday, March 14th. Wedbush reissued a “neutral” rating and set a $104.00 price objective on shares of Aspen Technology in a research note on Monday, March 18th. KeyCorp started coverage on Aspen Technology in a research note on Wednesday, April 10th. They set an “overweight” rating and a $120.00 price objective for the company. Bank of America raised Aspen Technology from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $88.00 to $116.00 in a research note on Tuesday, April 23rd. Finally, Canaccord Genuity increased their price objective on Aspen Technology from $110.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $117.25.
Shares of NASDAQ AZPN opened at $123.75 on Tuesday. Aspen Technology has a one year low of $74.84 and a one year high of $127.00. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 44.51 and a beta of 1.58.
Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $148.00 million for the quarter, compared to analysts’ expectations of $136.38 million. Aspen Technology had a net margin of 37.25% and a return on equity of 76.36%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the business earned $0.52 earnings per share. On average, equities research analysts predict that Aspen Technology will post 3.26 EPS for the current fiscal year.
In other news, Director Simon Orebi Gann sold 9,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $121.21, for a total transaction of $1,151,495.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Antonio J. Pietri sold 44,754 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $119.30, for a total value of $5,339,152.20. Following the completion of the sale, the chief executive officer now directly owns 227,577 shares of the company’s stock, valued at approximately $27,149,936.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,597 shares of company stock valued at $8,580,241. Insiders own 0.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Premia Global Advisors LLC purchased a new stake in Aspen Technology in the first quarter worth $32,000. Ellis Investment Partners LLC purchased a new stake in Aspen Technology in the first quarter worth $33,000. Riverview Trust Co purchased a new stake in Aspen Technology in the fourth quarter worth $65,000. Meridian Wealth Management LLC purchased a new stake in Aspen Technology in the first quarter worth $76,000. Finally, Anderson Fisher LLC purchased a new stake in Aspen Technology in the first quarter worth $105,000. 97.47% of the stock is owned by institutional investors.
Aspen Technology Company Profile
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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