Aspen Technology, Inc. (AZPN) Sets New 1-Year High at $66.14
Aspen Technology, Inc. (NASDAQ:AZPN)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $66.14 and last traded at $66.09, with a volume of 148,103 shares. The stock had previously closed at $65.67.
A number of equities analysts have issued reports on AZPN shares. BidaskClub downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Berenberg Bank started coverage on shares of Aspen Technology in a report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price objective on the stock. Zacks Investment Research raised shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Wednesday, August 16th. Canaccord Genuity reaffirmed a “hold” rating on shares of Aspen Technology in a report on Friday, August 11th. Finally, Robert W. Baird set a $63.00 price objective on shares of Aspen Technology and gave the stock a “hold” rating in a report on Friday, October 6th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $61.50.
The company has a market cap of $4.84 billion, a P/E ratio of 31.36 and a beta of 1.24. The firm has a 50-day moving average price of $64.10 and a 200 day moving average price of $59.85.
Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.29. Aspen Technology had a negative return on equity of 73.17% and a net margin of 33.58%. The firm had revenue of $123.68 million during the quarter, compared to the consensus estimate of $119.55 million. During the same period last year, the company earned $0.44 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. On average, analysts predict that Aspen Technology, Inc. will post $1.99 earnings per share for the current fiscal year.
In related news, insider Karl E. Johnsen sold 1,969 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total transaction of $116,446.66. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP F G. Hammond sold 3,388 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $60.60, for a total value of $205,312.80. Following the sale, the vice president now directly owns 20,733 shares in the company, valued at $1,256,419.80. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Paradigm Asset Management Co. LLC purchased a new stake in shares of Aspen Technology during the second quarter valued at $138,000. Pacad Investment Ltd. purchased a new stake in shares of Aspen Technology during the second quarter valued at $166,000. Advisor Group Inc. boosted its position in shares of Aspen Technology by 69.9% during the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock valued at $173,000 after buying an additional 1,296 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Aspen Technology by 12.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock valued at $183,000 after buying an additional 357 shares during the last quarter. Finally, TrimTabs Asset Management LLC boosted its position in shares of Aspen Technology by 85.3% during the second quarter. TrimTabs Asset Management LLC now owns 4,192 shares of the technology company’s stock valued at $232,000 after buying an additional 1,930 shares during the last quarter.
Aspen Technology Company Profile
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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