BidaskClub downgraded shares of Aspen Technology, Inc. (NASDAQ:AZPN) from a strong-buy rating to a buy rating in a research report released on Tuesday morning.

AZPN has been the topic of a number of other research reports. Zacks Investment Research raised Aspen Technology from a hold rating to a buy rating and set a $65.00 target price on the stock in a research note on Friday, May 5th. Wedbush reaffirmed a neutral rating and set a $59.00 target price on shares of Aspen Technology in a research note on Wednesday, June 28th. Canaccord Genuity reaffirmed a hold rating and set a $60.00 target price on shares of Aspen Technology in a research note on Friday, June 9th. Robert W. Baird assumed coverage on Aspen Technology in a research note on Wednesday, May 10th. They set a neutral rating and a $63.00 target price on the stock. Finally, Benchmark Co. reaffirmed a hold rating and set a $55.00 target price (up previously from $48.00) on shares of Aspen Technology in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $60.29.

Aspen Technology (NASDAQ AZPN) traded down 0.04% during midday trading on Tuesday, reaching $56.61. The company’s stock had a trading volume of 1,042,421 shares. Aspen Technology has a 12-month low of $41.03 and a 12-month high of $64.34. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 31.48 and a beta of 1.28. The company’s 50-day moving average is $56.14 and its 200 day moving average is $57.67.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Tuesday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. The firm had revenue of $119.28 million for the quarter, compared to analysts’ expectations of $117.64 million. Aspen Technology had a negative return on equity of 80.54% and a net margin of 29.85%. Equities analysts forecast that Aspen Technology will post $1.97 earnings per share for the current year.

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Several hedge funds have recently made changes to their positions in the stock. ClariVest Asset Management LLC purchased a new stake in shares of Aspen Technology during the first quarter worth about $1,540,000. Federated Investors Inc. PA purchased a new stake in shares of Aspen Technology during the fourth quarter worth about $203,000. Stephens Investment Management Group LLC raised its stake in shares of Aspen Technology by 3.6% in the first quarter. Stephens Investment Management Group LLC now owns 905,240 shares of the technology company’s stock worth $53,337,000 after buying an additional 31,672 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Aspen Technology during the first quarter worth about $314,000. Finally, Stephens Inc. AR raised its stake in shares of Aspen Technology by 1.0% in the first quarter. Stephens Inc. AR now owns 7,820 shares of the technology company’s stock worth $461,000 after buying an additional 74 shares during 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.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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