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Aspen Technology (NASDAQ:AZPN) CEO Antonio J. Pietri sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $42.84, for a total transaction of $428,400.00. Following the sale, the chief executive officer now directly owns 156,035 shares in the company, valued at approximately $6,684,539. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Separately, analysts at Zacks downgraded shares of Aspen Technology from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $50.60 price target on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Aspen Technology presently has an average rating of “Hold” and a consensus target price of $48.52.

Shares of Aspen Technology (NASDAQ:AZPN) traded up 0.14% on Wednesday, hitting $42.51. 564,189 shares of the company’s stock traded hands. Aspen Technology has a 52 week low of $33.31 and a 52 week high of $48.39. The stock has a 50-day moving average of $44.5 and a 200-day moving average of $44.23. The company has a market cap of $3.880 billion and a P/E ratio of 46.14.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.10. The company had revenue of $101.50 million for the quarter, compared to the consensus estimate of $96.61 million. Analysts expect that Aspen Technology will post $1.21 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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