Insider Selling: Aspen Technology EVP Sells 13,438 Shares of Stock (AZPN)
Aspen Technology (NASDAQ:AZPN) EVP Manolis E. Kotzabasakis sold 13,438 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $44.25, for a total transaction of $594,631.50. Following the completion of the sale, the executive vice president now directly owns 85,079 shares of the company’s stock, valued at approximately $3,764,746. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on AZPN shares. Analysts at Summit Research downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Monday, May 19th. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Aspen Technology in a research note on Wednesday, April 30th. They now have a $46.50 price target on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Aspen Technology currently has a consensus rating of “Hold” and an average price target of $46.18.
Shares of Aspen Technology (NASDAQ:AZPN) traded down 0.76% during mid-day trading on Monday, hitting $44.16. 410,166 shares of the company’s stock traded hands. Aspen Technology has a one year low of $28.35 and a one year high of $48.39. The stock’s 50-day moving average is $43.03 and its 200-day moving average is $42.73. The company has a market cap of $4.066 billion and a P/E ratio of 52.98.
Aspen Technology (NASDAQ:AZPN) last released its earnings data on Tuesday, April 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.09. The company had revenue of $103.60 million for the quarter, compared to the consensus estimate of $92.82 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. Analysts expect that Aspen Technology will post $0.95 EPS for the current fiscal year.
Aspen Technology, Inc is a global provider of process optimization software solutions, which are designed to manage and optimize plant and process design, operational performance, and supply chain planning.
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