Shares of Aspen Technology Inc. (NASDAQ:AZPN) have been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $40.71.
Several equities analysts have weighed in on the stock. KeyCorp reiterated a “buy” rating and set a $45.00 price objective on shares of Aspen Technology in a research report on Sunday, June 5th. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Wednesday, August 17th. Finally, Avondale Partners cut shares of Aspen Technology from a “market perform” rating to an “underperform” rating and boosted their price target for the company from $39.00 to $42.00 in a report on Friday, August 12th.
Aspen Technology (NASDAQ:AZPN) opened at 46.36 on Friday. Aspen Technology has a 12 month low of $29.25 and a 12 month high of $47.16. The company has a 50 day moving average price of $45.34 and a 200 day moving average price of $40.18. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 27.60 and a beta of 1.09.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Thursday, August 11th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.05. The firm had revenue of $113.70 million for the quarter, compared to analyst estimates of $112.88 million. Aspen Technology had a net margin of 29.63% and a negative return on equity of 297.67%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. Equities research analysts predict that Aspen Technology will post $1.80 earnings per share for the current year.
In other Aspen Technology news, CEO Antonio J. Pietri sold 4,500 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $45.03, for a total transaction of $202,635.00. Following the completion of the transaction, the chief executive officer now owns 152,750 shares of the company’s stock, valued at approximately $6,878,332.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP F G. Hammond sold 18,542 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $45.91, for a total transaction of $851,263.22. Following the transaction, the vice president now directly owns 48,885 shares of the company’s stock, valued at approximately $2,244,310.35. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. raised its position in Aspen Technology by 4.8% in the first quarter. Brookfield Asset Management Inc. now owns 13,220 shares of the company’s stock worth $478,000 after buying an additional 600 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in Aspen Technology during the first quarter worth $249,000. JPMorgan Chase & Co. raised its position in Aspen Technology by 57.9% in the first quarter. JPMorgan Chase & Co. now owns 1,126,866 shares of the company’s stock worth $40,714,000 after buying an additional 413,430 shares in the last quarter. Provident Investment Management Inc. purchased a new position in Aspen Technology during the first quarter worth $17,199,000. Finally, Howard Hughes Medical Institute purchased a new position in Aspen Technology during the first quarter worth $2,065,000.
Aspen Technology Company Profile
Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.
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