Aspen Technology, Inc. (NASDAQ:AZPN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been given a consensus recommendation of “Buy” by the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $134.14.

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. boosted 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. Bank of America reissued a “neutral” rating and set a $136.00 price objective (up previously from $130.00) on shares of Aspen Technology in a research report on Thursday, August 8th. Canaccord Genuity boosted 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. KeyCorp boosted their price objective on Aspen Technology from $124.00 to $141.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, BidaskClub cut Aspen Technology from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.

In related news, CFO Karl E. Johnsen sold 2,972 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $136.80, for a total transaction of $406,569.60. Following the transaction, the chief financial officer now directly owns 22,150 shares in the company, valued at $3,030,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in Aspen Technology by 2.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,072,554 shares of the technology company’s stock valued at $754,697,000 after acquiring an additional 155,276 shares during the period. BlackRock Inc. increased its stake in Aspen Technology by 3.8% during the second quarter. BlackRock Inc. now owns 3,877,106 shares of the technology company’s stock valued at $481,849,000 after acquiring an additional 141,490 shares during the period. Clearbridge Investments LLC increased its stake in Aspen Technology by 1.1% during the first quarter. Clearbridge Investments LLC now owns 1,747,819 shares of the technology company’s stock valued at $182,228,000 after acquiring an additional 18,610 shares during the period. William Blair Investment Management LLC increased its stake in Aspen Technology by 32.3% during the first quarter. William Blair Investment Management LLC now owns 1,582,680 shares of the technology company’s stock valued at $165,010,000 after acquiring an additional 386,376 shares during the period. Finally, Brown Advisory Inc. increased its stake in Aspen Technology by 2.6% during the second quarter. Brown Advisory Inc. now owns 1,248,089 shares of the technology company’s stock valued at $155,112,000 after acquiring an additional 32,067 shares during the period. Hedge funds and other institutional investors own 98.28% of the company’s stock.

Shares of NASDAQ AZPN traded up $2.36 during trading hours on Friday, hitting $135.96. 214,400 shares of the company’s stock were exchanged, compared to its average volume of 444,915. Aspen Technology has a 1-year low of $74.84 and a 1-year high of $142.15. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 21.77 and a beta of 1.54. The company’s 50-day moving average price is $132.10 and its 200-day moving average price is $115.36.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.52 earnings per share for the quarter, topping the 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 business had revenue of $195.77 million during the quarter, compared to analysts’ expectations of $162.71 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. On average, research analysts predict that Aspen Technology will post 3.09 earnings per share for the current year.

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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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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