Aspen Technology, Inc. (AZPN) Receives Average Recommendation of “Hold” from Analysts
Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have earned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $59.50.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Friday, May 5th. Benchmark Co. reaffirmed a “hold” rating and set a $55.00 price objective (up previously from $48.00) on shares of Aspen Technology in a research report on Wednesday, May 3rd. Wedbush reaffirmed a “neutral” rating and set a $59.00 price objective on shares of Aspen Technology in a research report on Wednesday, June 28th. Robert W. Baird started coverage on shares of Aspen Technology in a research report on Wednesday, May 10th. They set a “neutral” rating and a $63.00 price objective for the company. Finally, Canaccord Genuity reissued a “hold” rating and set a $60.00 target price on shares of Aspen Technology in a research note on Friday, June 9th.
A number of hedge funds and other institutional investors have recently modified their holdings of AZPN. 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 valued at $133,000 after buying an additional 1,064 shares during the last quarter. Federated Investors Inc. PA acquired a new position in shares of Aspen Technology during the fourth quarter valued at approximately $203,000. Comerica Bank acquired a new position in shares of Aspen Technology during the fourth quarter valued at approximately $225,000. Cookson Peirce & Co. Inc. acquired a new position in shares of Aspen Technology during the first quarter valued at approximately $243,000. Finally, HL Financial Services LLC increased its position in shares of Aspen Technology by 0.8% in the first quarter. HL Financial Services LLC now owns 4,257 shares of the technology company’s stock valued at $251,000 after buying an additional 33 shares during the last quarter.
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Shares of Aspen Technology (NASDAQ AZPN) traded down 0.46% during trading on Friday, hitting $56.20. 93,043 shares of the stock were exchanged. The company has a market cap of $4.19 billion, a P/E ratio of 31.26 and a beta of 1.28. The firm’s 50-day moving average is $57.09 and its 200 day moving average is $57.62. Aspen Technology has a 1-year low of $41.03 and a 1-year high of $64.34.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.09. Aspen Technology had a net margin of 29.85% and a negative return on equity of 80.54%. The business had revenue of $119.28 million during the quarter, compared to analysts’ expectations of $117.64 million. Equities analysts forecast that Aspen Technology will post $1.97 earnings per share for the current fiscal year.
About Aspen Technology
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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