Aspen Technology (NASDAQ:AZPN) had its price objective increased by stock analysts at JPMorgan Chase & Co. to $65.00 in a report released on Wednesday, The Fly reports. The brokerage currently has an “underweight” rating on the technology company’s stock. JPMorgan Chase & Co.’s price objective points to a potential downside of 1.77% from the stock’s current price.
A number of other brokerages have also weighed in on AZPN. Bank of America began coverage on Aspen Technology in a research note on Monday, November 6th. They set a “neutral” rating and a $67.00 price objective for the company. BidaskClub lowered Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research lowered Aspen Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Canaccord Genuity raised their price objective on Aspen Technology from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, Robert W. Baird set a $63.00 price objective on Aspen Technology and gave the company a “hold” rating in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $63.78.
Shares of Aspen Technology (NASDAQ AZPN) remained flat at $$66.17 during trading hours on Wednesday. The stock had a trading volume of 330,496 shares, compared to its average volume of 291,050. Aspen Technology has a 1 year low of $52.23 and a 1 year high of $69.38. The company has a market capitalization of $4,800.00, a price-to-earnings ratio of 30.78 and a beta of 1.23.
Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The business had revenue of $122.80 million during the quarter, compared to analyst estimates of $121.73 million. During the same quarter last year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. analysts anticipate that Aspen Technology will post 1.77 earnings per share for the current fiscal year.
In other Aspen Technology news, VP F G. Hammond sold 1,578 shares of Aspen Technology stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $65.00, for a total transaction of $102,570.00. Following the sale, the vice president now owns 26,108 shares of the company’s stock, valued at approximately $1,697,020. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jr. Robert M. Whelan sold 10,000 shares of Aspen Technology stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $66.01, for a total value of $660,100.00. Following the sale, the director now directly owns 25,559 shares in the company, valued at approximately $1,687,149.59. The disclosure for this sale can be found here. In the last three months, insiders sold 14,197 shares of company stock worth $931,360. Company insiders own 0.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. First Manhattan Co. acquired a new position in shares of Aspen Technology during the 3rd quarter valued at $125,000. Pacad Investment Ltd. acquired a new position in shares of Aspen Technology during the 2nd quarter valued at $166,000. Advisor Group Inc. increased its position in shares of Aspen Technology by 69.9% during the 2nd quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock valued at $173,000 after purchasing an additional 1,296 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Aspen Technology by 12.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock valued at $183,000 after purchasing an additional 357 shares during the period. Finally, Parametrica Management Ltd acquired a new position in shares of Aspen Technology during the 3rd quarter valued at $203,000.
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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.