Aspen Technology (NASDAQ:AZPN) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Thursday, September 20th.
Several other equities research analysts also recently commented on the stock. Wedbush boosted their target price on shares of Aspen Technology from $80.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Berenberg Bank decreased their target price on shares of Aspen Technology from $127.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, August 21st. ValuEngine downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 2nd. Canaccord Genuity boosted their target price on shares of Aspen Technology from $84.00 to $100.00 and gave the stock a “hold” rating in a research report on Friday, August 17th. Finally, Zacks Investment Research raised shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Aspen Technology currently has an average rating of “Hold” and a consensus price target of $97.63.
AZPN stock traded up $1.23 during midday trading on Thursday, hitting $101.63. The stock had a trading volume of 658,495 shares, compared to its average volume of 490,080. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 49.33, a PEG ratio of 2.42 and a beta of 1.27. Aspen Technology has a 1-year low of $61.71 and a 1-year high of $118.86.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. Aspen Technology had a net margin of 29.77% and a negative return on equity of 53.91%. The firm had revenue of $125.96 million for the quarter, compared to analyst estimates of $125.60 million. During the same quarter in the prior year, the business earned $0.79 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Aspen Technology will post 2.85 earnings per share for the current year.
In other news, CEO Antonio J. Pietri sold 9,193 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $109.44, for a total transaction of $1,006,081.92. Following the completion of the transaction, the chief executive officer now directly owns 228,730 shares of the company’s stock, valued at approximately $25,032,211.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jr. Robert M. Whelan sold 1,250 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $107.76, for a total transaction of $134,700.00. Following the transaction, the director now directly owns 10,637 shares of the company’s stock, valued at $1,146,243.12. The disclosure for this sale can be found here. Insiders sold a total of 33,250 shares of company stock valued at $3,595,936 over the last ninety days. 0.80% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Hexavest Inc. purchased a new stake in shares of Aspen Technology during the 3rd quarter valued at approximately $168,000. Cerebellum GP LLC purchased a new stake in Aspen Technology in the 3rd quarter worth approximately $179,000. Atria Investments LLC lifted its stake in Aspen Technology by 25.0% in the 3rd quarter. Atria Investments LLC now owns 9,550 shares of the technology company’s stock worth $1,088,000 after purchasing an additional 1,908 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Aspen Technology in the 3rd quarter worth approximately $398,000. Finally, United Services Automobile Association lifted its stake in Aspen Technology by 5.9% in the 2nd quarter. United Services Automobile Association now owns 12,148 shares of the technology company’s stock worth $1,127,000 after purchasing an additional 673 shares in the last quarter. Institutional investors own 98.40% of the company’s stock.
About Aspen Technology
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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