Aspen Technology, Inc. (AZPN) Given Consensus Recommendation of “Buy” by Analysts
Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been given an average recommendation of “Buy” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $61.17.
Several brokerages recently issued reports on AZPN. BidaskClub raised Aspen Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Zacks Investment Research cut Aspen Technology from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Wedbush reaffirmed a “neutral” rating and set a $59.00 price objective on shares of Aspen Technology in a report on Wednesday, June 28th. Canaccord Genuity reaffirmed a “hold” rating on shares of Aspen Technology in a report on Friday, August 11th. Finally, Berenberg Bank began coverage on Aspen Technology in a report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price objective for the company.
In other news, insider Karl E. Johnsen sold 1,969 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total value of $116,446.66. Following the completion of the transaction, the insider now directly owns 28,530 shares of the company’s stock, valued at $1,687,264.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP F G. Hammond sold 3,388 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total value of $205,312.80. Following the completion of the transaction, the vice president now directly owns 20,733 shares of the company’s stock, valued at $1,256,419.80. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ClariVest Asset Management LLC acquired a new position in shares of Aspen Technology in the first quarter worth $1,540,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Aspen Technology in the first quarter valued at $314,000. Credit Suisse AG grew its position in shares of Aspen Technology by 37.2% in the first quarter. Credit Suisse AG now owns 109,284 shares of the technology company’s stock valued at $6,439,000 after purchasing an additional 29,605 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Aspen Technology in the first quarter valued at $300,000. Finally, Jennison Associates LLC grew its position in shares of Aspen Technology by 354.1% in the second quarter. Jennison Associates LLC now owns 31,854 shares of the technology company’s stock valued at $1,760,000 after purchasing an additional 24,839 shares during the period.
Shares of Aspen Technology (NASDAQ:AZPN) traded down 0.27% on Friday, hitting $63.49. The stock had a trading volume of 233,871 shares. The firm’s 50-day moving average is $59.35 and its 200-day moving average is $58.61. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 30.09 and a beta of 1.26. Aspen Technology has a one year low of $44.60 and a one year high of $64.34.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Thursday, August 10th. The technology company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.44 by $0.29. The business had revenue of $123.68 million during the quarter, compared to analysts’ expectations of $119.55 million. Aspen Technology had a negative return on equity of 73.17% and a net margin of 33.58%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. On average, analysts expect that Aspen Technology will post $1.99 EPS 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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