Aspen Technology, Inc. (AZPN) Rating Reiterated by Robert W. Baird
Aspen Technology, Inc. (NASDAQ:AZPN)‘s stock had its “outperform” rating restated by stock analysts at Robert W. Baird in a note issued to investors on Thursday. They presently have a $65.00 price objective on the technology company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 11.15% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Friday, May 5th. Benchmark Co. reaffirmed a “hold” rating and issued a $55.00 price target (up from $48.00) on shares of Aspen Technology in a report on Wednesday, May 3rd. Canaccord Genuity reaffirmed a “hold” rating and issued a $55.00 price target on shares of Aspen Technology in a report on Friday, February 24th. Finally, Avondale Partners raised shares of Aspen Technology from an “underperform” rating to an “outperform” rating and set a $60.00 price target on the stock in a report on Friday, January 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $57.57.
Aspen Technology (NASDAQ:AZPN) traded down 0.53% during trading on Thursday, hitting $58.48. The stock had a trading volume of 264,258 shares. The firm has a market cap of $4.36 billion, a PE ratio of 32.53 and a beta of 1.02. The company’s 50 day moving average is $59.06 and its 200 day moving average is $55.50. Aspen Technology has a 52-week low of $36.25 and a 52-week high of $64.34.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.38 by $0.09. Aspen Technology had a net margin of 29.29% and a negative return on equity of 117.73%. The company had revenue of $119.28 million for the quarter, compared to analyst estimates of $117.64 million. Equities research analysts forecast that Aspen Technology will post $1.97 earnings per share for the current year.
In other Aspen Technology news, EVP William Griffin sold 2,427 shares of the company’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $58.55, for a total value of $142,100.85. Following the completion of the transaction, the executive vice president now owns 46,132 shares in the company, valued at $2,701,028.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Antonio J. Pietri sold 4,400 shares of the company’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $56.42, for a total transaction of $248,248.00. Following the completion of the transaction, the chief executive officer now owns 205,807 shares of the company’s stock, valued at approximately $11,611,630.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,727 shares of company stock valued at $440,680. Insiders own 0.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. TrimTabs Asset Management LLC increased its position in shares of Aspen Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,262 shares of the technology company’s stock worth $133,000 after buying an additional 1,064 shares during the period. Fortaleza Asset Management Inc. increased its position in shares of Aspen Technology by 4.3% in the fourth quarter. Fortaleza Asset Management Inc. now owns 3,615 shares of the technology company’s stock worth $198,000 after buying an additional 150 shares during the period. Pitcairn Co. purchased a new position in shares of Aspen Technology during the fourth quarter worth $202,000. First Republic Investment Management Inc. purchased a new position in shares of Aspen Technology during the fourth quarter worth $203,000. Finally, Federated Investors Inc. PA purchased a new position in shares of Aspen Technology during the fourth quarter worth $203,000.
Aspen Technology Company Profile
Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.
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