Aspen Technology, Inc. (AZPN) Given Average Rating of “Buy” by Brokerages
Aspen Technology, Inc. (NASDAQ:AZPN) has been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $61.17.
Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Aspen Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Wedbush reiterated a “neutral” rating and issued a $59.00 price objective on shares of Aspen Technology in a research report on Wednesday, June 28th. Canaccord Genuity reiterated a “hold” rating and issued a $60.00 price objective on shares of Aspen Technology in a research report on Friday, June 9th. BidaskClub lowered shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Berenberg Bank assumed coverage on shares of Aspen Technology in a research note on Wednesday, August 23rd. They set a “buy” rating and a $70.00 target price on the stock.
Shares of Aspen Technology (AZPN) traded down 0.451% during mid-day trading on Wednesday, hitting $63.632. 36,299 shares of the stock traded hands. The firm has a 50 day moving average of $62.38 and a 200 day moving average of $59.22. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 30.157 and a beta of 1.24. Aspen Technology has a 12 month low of $45.47 and a 12 month high of $64.87.
Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.29. Aspen Technology had a net margin of 33.58% and a negative return on equity of 73.17%. The firm had revenue of $123.68 million during the quarter, compared to analyst estimates of $119.55 million. During the same period in the previous year, the firm earned $0.44 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts expect that Aspen Technology will post $1.99 EPS for the current fiscal year.
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In other Aspen Technology news, VP F G. Hammond sold 3,388 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total transaction of $205,312.80. Following the completion of the sale, the vice president now directly owns 20,733 shares in the company, valued at approximately $1,256,419.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Karl E. Johnsen sold 1,969 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 28,530 shares of the company’s stock, valued at $1,687,264.20. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC purchased a new stake in shares of Aspen Technology during the second quarter worth approximately $138,000. Pacad Investment Ltd. acquired a new stake in Aspen Technology during the 2nd quarter worth $166,000. Advisor Group Inc. boosted its stake in Aspen Technology by 69.9% during the 2nd quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock worth $173,000 after purchasing an additional 1,296 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Aspen Technology by 12.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock worth $183,000 after purchasing an additional 357 shares during the last quarter. Finally, TrimTabs Asset Management LLC boosted its stake in Aspen Technology by 85.3% during the 2nd quarter. TrimTabs Asset Management LLC now owns 4,192 shares of the technology company’s stock worth $232,000 after purchasing an additional 1,930 shares during the last quarter.
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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