Aspen Technology (NASDAQ:AZPN) had its target price boosted by Canaccord Genuity from $126.00 to $135.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 12.89% from the company’s current price.
AZPN has been the subject of a number of other reports. KeyCorp increased their target price on shares of Aspen Technology from $124.00 to $141.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $152.00 target price (up from $133.00) on shares of Aspen Technology in a research note on Monday, August 12th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $123.00 target price (down from $131.00) on shares of Aspen Technology in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $155.00 target price (up from $146.00) on shares of Aspen Technology in a research note on Monday, August 12th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $136.00 target price (up from $130.00) on shares of Aspen Technology in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $134.57.
Shares of NASDAQ:AZPN opened at $119.59 on Thursday. The company has a market cap of $8.66 billion, a P/E ratio of 31.72, a PEG ratio of 20.80 and a beta of 1.59. Aspen Technology has a 52 week low of $74.84 and a 52 week high of $142.15. The company has a 50-day moving average price of $133.23 and a 200 day moving average price of $119.51.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.50. Aspen Technology had a net margin of 43.91% and a return on equity of 60.30%. The firm had revenue of $195.77 million during the quarter, compared to the consensus estimate of $162.71 million. During the same quarter last year, the firm earned $0.59 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. As a group, analysts predict that Aspen Technology will post 3.08 earnings per share for the current fiscal year.
In other Aspen Technology news, CFO Karl E. Johnsen sold 2,972 shares of Aspen Technology stock in a transaction on Monday, August 12th. The shares were sold at an average price of $136.80, for a total value of $406,569.60. Following the transaction, the chief financial officer now owns 22,150 shares in the company, valued at approximately $3,030,120. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.90% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in AZPN. First Allied Advisory Services Inc. acquired a new position in shares of Aspen Technology in the 1st quarter valued at $219,000. Keybank National Association OH acquired a new position in shares of Aspen Technology in the 1st quarter valued at $399,000. National Asset Management Inc. boosted its holdings in shares of Aspen Technology by 57.4% in the 1st quarter. National Asset Management Inc. now owns 7,716 shares of the technology company’s stock valued at $805,000 after purchasing an additional 2,814 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Aspen Technology by 5.4% in the 1st quarter. US Bancorp DE now owns 38,030 shares of the technology company’s stock valued at $3,965,000 after purchasing an additional 1,949 shares during the last quarter. Finally, Commerce Bank acquired a new position in shares of Aspen Technology during the 1st quarter valued at $221,000. Institutional investors own 96.45% of the company’s stock.
Aspen Technology Company Profile
Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.
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