Aspen Technology (AZPN) Earns “Neutral” Rating from Wedbush

Aspen Technology (NASDAQ:AZPN)‘s stock had its “neutral” rating reiterated by research analysts at Wedbush in a report released on Thursday, The Fly reports. They presently have a $74.00 target price on the technology company’s stock, up from their prior target price of $65.00. Wedbush’s price target suggests a potential downside of 7.64% from the stock’s previous close.

AZPN has been the subject of several other reports. Zacks Investment Research cut Aspen Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Bank of America began coverage on Aspen Technology in a research note on Monday, November 6th. They issued a “neutral” rating and a $67.00 price target for the company. BidaskClub cut Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. JPMorgan Chase & Co. boosted their price target on Aspen Technology to $65.00 and gave the company an “underweight” rating in a research note on Wednesday, January 3rd. Finally, KeyCorp restated an “overweight” rating and set a $88.00 price objective (up from $83.00) on shares of Aspen Technology in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $71.40.

Shares of Aspen Technology (NASDAQ:AZPN) traded up $2.61 during mid-day trading on Thursday, hitting $80.12. The company had a trading volume of 980,889 shares, compared to its average volume of 380,556. The company has a market capitalization of $5,575.99, a PE ratio of 36.58 and a beta of 1.23. Aspen Technology has a fifty-two week low of $52.23 and a fifty-two week high of $84.40.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.09. The business had revenue of $124.90 million during the quarter, compared to analysts’ expectations of $121.81 million. Aspen Technology had a negative return on equity of 61.97% and a net margin of 33.23%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. research analysts expect that Aspen Technology will post 1.85 EPS for the current year.

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.01, for a total transaction of $660,100.00. Following the completion of the transaction, the director now directly owns 25,559 shares in the company, valued at $1,687,149.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Karl E. Johnsen sold 2,619 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $64.41, for a total transaction of $168,689.79. Following the transaction, the insider now owns 40,063 shares of the company’s stock, valued at $2,580,457.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,197 shares of company stock valued at $931,360. Company insiders own 0.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AZPN. Teachers Advisors LLC increased its holdings in shares of Aspen Technology by 1.9% during the second quarter. Teachers Advisors LLC now owns 201,298 shares of the technology company’s stock worth $11,124,000 after buying an additional 3,785 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Aspen Technology by 7.7% during the second quarter. Ameriprise Financial Inc. now owns 163,047 shares of the technology company’s stock worth $9,003,000 after buying an additional 11,622 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of Aspen Technology by 6.0% during the second quarter. Nationwide Fund Advisors now owns 59,059 shares of the technology company’s stock worth $3,264,000 after buying an additional 3,331 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Aspen Technology by 0.7% during the second quarter. Amalgamated Bank now owns 9,635 shares of the technology company’s stock worth $532,000 after buying an additional 69 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Aspen Technology by 11.1% during the second quarter. New York State Common Retirement Fund now owns 294,713 shares of the technology company’s stock worth $16,286,000 after buying an additional 29,350 shares in the last quarter.

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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.

The Fly

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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