Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have received a consensus recommendation of “Hold” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $102.00.

A number of equities research analysts have commented on AZPN shares. BidaskClub cut Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, June 22nd. Zacks Investment Research cut Aspen Technology from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine cut Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Monday, July 2nd. KeyCorp increased their target price on Aspen Technology from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. Finally, Robert W. Baird increased their target price on Aspen Technology from $90.00 to $114.00 and gave the company an “outperform” rating in a report on Thursday, August 9th.

NASDAQ AZPN traded up $0.77 during mid-day trading on Wednesday, hitting $111.66. The stock had a trading volume of 13,370 shares, compared to its average volume of 428,724. Aspen Technology has a 52-week low of $61.71 and a 52-week high of $118.86. The company has a market capitalization of $7.87 billion, a P/E ratio of 53.95, a PEG ratio of 2.36 and a beta of 1.25.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $125.96 million during the quarter, compared to the consensus estimate of $125.60 million. Aspen Technology had a negative return on equity of 53.91% and a net margin of 29.77%. Aspen Technology’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. equities research analysts anticipate that Aspen Technology will post 2.85 earnings per share for the current year.

In other news, CEO Antonio J. Pietri sold 9,193 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $109.44, for a total transaction of $1,006,081.92. Following the sale, the chief executive officer now owns 228,730 shares in the company, valued at $25,032,211.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary E. Haroian sold 10,058 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $107.30, for a total value of $1,079,223.40. The disclosure for this sale can be found here. Insiders have sold 33,250 shares of company stock worth $3,595,936 in the last 90 days. Insiders own 0.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of AZPN. Macquarie Group Ltd. raised its position in shares of Aspen Technology by 266.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,100 shares of the technology company’s stock worth $102,000 after buying an additional 800 shares during the period. Fort L.P. purchased a new position in shares of Aspen Technology in the 2nd quarter worth $118,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Aspen Technology by 411.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,753 shares of the technology company’s stock worth $163,000 after buying an additional 1,410 shares during the period. Moloney Securities Asset Management LLC purchased a new position in shares of Aspen Technology in the 2nd quarter worth $201,000. Finally, King Luther Capital Management Corp purchased a new position in shares of Aspen Technology in the 2nd quarter worth $204,000. Institutional investors and hedge funds own 98.40% of the company’s stock.

About Aspen Technology

Aspen Technology, Inc, together with its subsidiaries, provides software and services in the United States, Europe, and internationally. It 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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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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