Aspen Technology, Inc. (NASDAQ:AZPN) shares hit a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock to $65.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. Aspen Technology traded as high as $69.42 and last traded at $66.17, with a volume of 330400 shares. The stock had previously closed at $66.17.

A number of other research analysts have also weighed in on the stock. Robert W. Baird set a $63.00 price objective on shares of Aspen Technology and gave the company a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research lowered shares of Aspen Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Bank of America assumed coverage on shares of Aspen Technology in a research note on Monday, November 6th. They issued a “neutral” rating and a $67.00 price objective on the stock. BidaskClub lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Canaccord Genuity raised their price objective on shares of Aspen Technology from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $63.78.

In other Aspen Technology news, VP F G. Hammond sold 1,578 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $65.00, for a total value of $102,570.00. Following the transaction, the vice president now directly owns 26,108 shares of the company’s stock, valued at $1,697,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jr. Robert M. Whelan sold 10,000 shares of the stock in a transaction dated 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 sale, the director now owns 25,559 shares of the company’s stock, valued at approximately $1,687,149.59. The disclosure for this sale can be found here. Insiders sold 14,197 shares of company stock worth $931,360 over the last ninety days. Insiders own 0.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in AZPN. Koch Industries Inc. raised its holdings in shares of Aspen Technology by 8,875.5% in the second quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock valued at $1,164,000 after purchasing an additional 1,171,746 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Aspen Technology by 15.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,984,783 shares of the technology company’s stock valued at $250,285,000 after purchasing an additional 543,592 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Aspen Technology by 20.9% in the second quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock valued at $130,441,000 after purchasing an additional 408,200 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Aspen Technology by 304.8% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 416,171 shares of the technology company’s stock valued at $22,997,000 after purchasing an additional 313,372 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Aspen Technology in the second quarter valued at about $15,288,000.

The company has a market cap of $4,799.67, a price-to-earnings ratio of 30.78 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The company had revenue of $122.80 million during the quarter, compared to the consensus estimate of $121.73 million. Aspen Technology had a net margin of 33.35% and a negative return on equity of 66.74%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. sell-side analysts predict that Aspen Technology, Inc. will post 1.77 EPS for the current year.

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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.

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