Aspen Technology, Inc. (AZPN) Receives Average Rating of “Buy” from Analysts
Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $60.67.
Several equities research analysts have recently issued reports on the stock. Canaccord Genuity reissued a “hold” rating and issued a $60.00 price objective on shares of Aspen Technology in a research report on Friday, June 9th. Benchmark Co. reissued a “hold” rating and issued a $55.00 price objective (up previously from $48.00) on shares of Aspen Technology in a research report on Wednesday, May 3rd. Zacks Investment Research raised shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Wednesday. Robert W. Baird assumed coverage on shares of Aspen Technology in a research report on Wednesday, May 10th. They issued a “neutral” rating and a $63.00 price objective for the company. Finally, BidaskClub raised shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th.
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In other news, insider Karl E. Johnsen sold 1,969 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $59.14, for a total value of $116,446.66. Following the completion of the transaction, the insider now directly owns 28,530 shares in the company, valued at $1,687,264.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC increased its position in shares of Aspen Technology by 28.0% in the fourth quarter. Teachers Advisors LLC now owns 173,622 shares of the technology company’s stock valued at $9,494,000 after buying an additional 37,963 shares during the period. Acadian Asset Management LLC increased its position in shares of Aspen Technology by 27.0% in the first quarter. Acadian Asset Management LLC now owns 62,469 shares of the technology company’s stock valued at $3,681,000 after buying an additional 13,295 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Aspen Technology by 35.5% in the first quarter. Janney Montgomery Scott LLC now owns 36,805 shares of the technology company’s stock valued at $2,169,000 after buying an additional 9,642 shares during the period. Russell Investments Group Ltd. increased its position in shares of Aspen Technology by 9.9% in the first quarter. Russell Investments Group Ltd. now owns 170,422 shares of the technology company’s stock valued at $10,041,000 after buying an additional 15,403 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its position in shares of Aspen Technology by 2,444.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 102,799 shares of the technology company’s stock valued at $6,056,000 after buying an additional 98,759 shares during the period.
Shares of Aspen Technology (NASDAQ:AZPN) remained flat at $58.38 during trading on Tuesday. 306,399 shares of the company were exchanged. Aspen Technology has a one year low of $44.60 and a one year high of $64.34. The firm has a market cap of $4.27 billion, a P/E ratio of 27.67 and a beta of 1.28. The stock’s 50-day moving average is $57.09 and its 200-day moving average is $57.96.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Thursday, August 10th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $123.68 million during the quarter, compared to analyst estimates of $119.55 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts expect that Aspen Technology will post $1.99 EPS for the current fiscal year.
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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