Aspen Technology CFO Sells $330,856 in Stock (AZPN)
Aspen Technology (NASDAQ:AZPN) CFO Mark P. Sullivan sold 7,938 shares of Aspen Technology stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $41.68, for a total value of $330,855.84. Following the completion of the transaction, the chief financial officer now directly owns 99,745 shares of the company’s stock, valued at approximately $4,157,372. The sale was disclosed in a legal filing with the SEC, 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 stock. Aspen Technology currently has a consensus rating of “Hold” and a consensus price target of $48.52.
Aspen Technology (NASDAQ:AZPN) traded down 0.05% during mid-day trading on Wednesday, hitting $41.71. The stock had a trading volume of 750,848 shares. Aspen Technology has a one year low of $33.47 and a one year high of $48.39. The stock has a 50-day moving average of $44.08 and a 200-day moving average of $44.12. The company has a market cap of $3.807 billion and a price-to-earnings ratio of 45.36.
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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