Aspen Technology, Inc. (AZPN) Given a $63.00 Price Target at Robert W. Baird
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Aspen Technology from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Berenberg Bank initiated coverage on shares of Aspen Technology in a research report on Wednesday, August 23rd. They issued a buy rating and a $70.00 price target for the company. Zacks Investment Research raised shares of Aspen Technology from a hold rating to a buy rating and set a $67.00 price target for the company in a research report on Wednesday, August 16th. Canaccord Genuity reaffirmed a hold rating on shares of Aspen Technology in a report on Friday, August 11th. Finally, Wedbush reaffirmed a neutral rating and issued a $59.00 target price on shares of Aspen Technology in a report on Wednesday, June 28th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $61.50.
Shares of Aspen Technology (AZPN) traded up 1.25% during midday trading on Friday, reaching $64.72. The company’s stock had a trading volume of 334,043 shares. The company has a 50 day moving average of $62.78 and a 200-day moving average of $59.32. Aspen Technology has a 52 week low of $45.47 and a 52 week high of $64.87. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 30.67 and a beta of 1.24.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $119.55 million. During the same period in the previous year, the company earned $0.44 earnings per share. Aspen Technology’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts predict that Aspen Technology will post $1.99 earnings per share for the current year.
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In related news, insider Karl E. Johnsen sold 1,969 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $59.14, for a total transaction of $116,446.66. Following the completion of the transaction, the insider now directly owns 28,530 shares of the company’s stock, valued at $1,687,264.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP F G. Hammond sold 3,388 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total transaction of $205,312.80. Following the transaction, the vice president now directly owns 20,733 shares of the company’s stock, valued at $1,256,419.80. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC raised its holdings in Aspen Technology by 354.1% during the second quarter. Jennison Associates LLC now owns 31,854 shares of the technology company’s stock worth $1,760,000 after purchasing an additional 24,839 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in Aspen Technology during the first quarter worth about $314,000. Credit Suisse AG raised its holdings in Aspen Technology by 37.2% during the first quarter. Credit Suisse AG now owns 109,284 shares of the technology company’s stock worth $6,439,000 after purchasing an additional 29,605 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in Aspen Technology during the first quarter worth about $300,000. Finally, Comerica Bank raised its holdings in Aspen Technology by 6.4% during the first quarter. Comerica Bank now owns 4,302 shares of the technology company’s stock worth $266,000 after purchasing an additional 259 shares in the last quarter.
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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