Aspen Technology Inc. (AZPN) Downgraded to “Hold” at Zacks Investment Research
Aspen Technology Inc. (NASDAQ:AZPN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Aspen Technology Inc. is a recognized expert and leading provider of award-winning process optimization software and services. AspenTech’s integrated aspenONE solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to-end throughout the engineering, plant operations, and supply chain management processes, resulting in millions of dollars in cost savings. “
Separately, Avondale Partners cut shares of Aspen Technology from a “market perform” rating to an “underperform” rating and upped their price target for the company from $39.00 to $42.00 in a research report on Friday, August 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $40.71.
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Aspen Technology (NASDAQ:AZPN) traded down 0.52% during midday trading on Wednesday, reaching $46.07. 444,175 shares of the company traded hands. Aspen Technology has a 12-month low of $29.25 and a 12-month high of $48.08. The company has a 50 day moving average of $46.09 and a 200-day moving average of $41.03. The stock has a market capitalization of $3.67 billion, a P/E ratio of 27.42 and a beta of 1.06.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Aspen Technology had a net margin of 29.63% and a negative return on equity of 297.67%. The firm earned $113.70 million during the quarter, compared to analysts’ expectations of $112.88 million. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was down .4% on a year-over-year basis. Equities analysts anticipate that Aspen Technology will post $1.80 EPS for the current fiscal year.
In other news, VP F G. Hammond sold 18,542 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $45.91, for a total transaction of $851,263.22. Following the completion of the sale, the vice president now directly owns 48,885 shares in the company, valued at $2,244,310.35. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Antonio J. Pietri sold 4,500 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $45.03, for a total transaction of $202,635.00. Following the sale, the chief executive officer now owns 152,750 shares of the company’s stock, valued at $6,878,332.50. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Pacific Global Investment Management CO boosted its stake in Aspen Technology by 3.8% in the first quarter. Pacific Global Investment Management CO now owns 14,255 shares of the company’s stock valued at $515,000 after buying an additional 520 shares during the period. Quadrature Capital Ltd purchased a new stake in Aspen Technology during the first quarter valued at $261,000. UBS Group AG boosted its stake in Aspen Technology by 24.3% in the first quarter. UBS Group AG now owns 43,574 shares of the company’s stock valued at $1,574,000 after buying an additional 8,530 shares during the period. State Street Corp boosted its stake in Aspen Technology by 2.8% in the first quarter. State Street Corp now owns 1,667,966 shares of the company’s stock valued at $60,261,000 after buying an additional 45,732 shares during the period. Finally, Zebra Capital Management LLC purchased a new stake in Aspen Technology during the first quarter valued at $611,000.
Aspen Technology Company Profile
Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.
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