Aspen Technology’s (AZPN) Buy Rating Reaffirmed at KeyCorp

KeyCorp reissued their buy rating on shares of Aspen Technology (NASDAQ:AZPN) in a report published on Monday. KeyCorp currently has a $83.00 price target on the technology company’s stock, up from their prior price target of $73.00.

Several other brokerages have also commented on AZPN. Bank of America began coverage on Aspen Technology in a report on Monday, November 6th. They issued a neutral rating and a $67.00 price objective on the stock. BidaskClub lowered Aspen Technology from a buy rating to a hold rating in a report on Tuesday, December 12th. JPMorgan Chase & Co. raised their price objective on Aspen Technology to $65.00 and gave the company an underweight rating in a report on Wednesday, January 3rd. Zacks Investment Research lowered Aspen Technology from a hold rating to a sell rating in a report on Tuesday, December 26th. Finally, Canaccord Genuity raised their price objective on Aspen Technology from $62.00 to $63.00 and gave the company a hold rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Aspen Technology currently has a consensus rating of Hold and an average price target of $66.60.

Shares of Aspen Technology (NASDAQ AZPN) traded down $0.30 during mid-day trading on Monday, reaching $72.81. The company had a trading volume of 652,117 shares, compared to its average volume of 456,017. Aspen Technology has a 52 week low of $52.23 and a 52 week high of $73.54. The stock has a market capitalization of $5,300.00, a PE ratio of 33.87 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.48 by $0.05. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The company had revenue of $122.80 million for the quarter, compared to analyst estimates of $121.73 million. During the same period last year, the company earned $0.49 earnings per share. Aspen Technology’s quarterly revenue was up 2.2% compared to the same quarter last year. equities analysts predict that Aspen Technology will post 1.83 EPS for the current fiscal year.

In related news, insider Karl E. Johnsen sold 2,619 shares of Aspen Technology stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $64.41, for a total transaction of $168,689.79. Following the transaction, the insider now owns 40,063 shares in the company, valued at $2,580,457.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP F G. Hammond sold 1,578 shares of Aspen Technology stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $65.00, for a total value of $102,570.00. Following the transaction, the vice president now owns 26,108 shares in the company, valued at approximately $1,697,020. The disclosure for this sale can be found here. Insiders sold 14,197 shares of company stock worth $931,360 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. First Manhattan Co. purchased a new position in Aspen Technology during the third quarter worth approximately $125,000. Pacad Investment Ltd. purchased a new position in Aspen Technology during the second quarter worth approximately $166,000. Advisor Group Inc. raised its position in Aspen Technology by 69.9% in the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock valued at $173,000 after purchasing an additional 1,296 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Aspen Technology by 12.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock valued at $183,000 after purchasing an additional 357 shares during the period. Finally, Parametrica Management Ltd purchased a new stake in Aspen Technology in the third quarter valued at $203,000.

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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.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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