Insider Selling: Aspen Technology CFO Sells 12,645 Shares of Stock (AZPN)
Aspen Technology (NASDAQ:AZPN) CFO Mark Sullivan sold 12,645 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $34.75, for a total value of $439,413.75. Following the transaction, the chief financial officer now directly owns 126,471 shares in the company. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of research firms have recently commented on AZPN. Analysts at Zacks downgraded shares of Aspen Technology (NASDAQ:AZPN) from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, August 29th. They now have a $36.60 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Aspen Technology (NASDAQ:AZPN) from $35.00 to $40.00 in a research note to investors on Monday, August 19th. They now have a “buy” rating on the stock. Finally, analysts at Pacific Crest reiterated an “outperform” rating on shares of Aspen Technology (NASDAQ:AZPN) in a research note to investors on Friday, August 16th. They now have a $40.00 price target on the stock, up previously from $35.00.
Aspen Technology (NASDAQ:AZPN) traded down 0.23% on Monday, hitting $34.73. 322,235 shares of the company’s stock traded hands. Aspen Technology has a 52-week low of $23.92 and a 52-week high of $36.54. The stock has a 50-day moving average of $33.54 and a 200-day moving average of $31.35. The company has a market cap of $3.243 billion and a price-to-earnings ratio of 74.06.
Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Thursday, August 15th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.08 by $0.16. The company had revenue of $83.30 million for the quarter, compared to the consensus estimate of $78.79 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 30.2% on a year-over-year basis. On average, analysts predict that Aspen Technology will post $0.65 earnings per share for the current fiscal year.
Aspen Technology, Inc, is a provider of process optimization software solutions. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, engineering and construction industries.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.