Aspen Technology, Inc. (AZPN) Given Average Rating of “Hold” by Brokerages

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have received a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $66.60.

AZPN has been the subject of a number of research reports. Canaccord Genuity raised their price objective on shares of Aspen Technology from $62.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 27th. Robert W. Baird set a $63.00 price target on shares of Aspen Technology and gave the stock a “hold” rating in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Tuesday, October 31st. KeyCorp restated a “buy” rating and set a $83.00 price target (up previously from $73.00) on shares of Aspen Technology in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of Aspen Technology to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, January 3rd.

Shares of Aspen Technology (NASDAQ:AZPN) traded up $1.12 during midday trading on Friday, reaching $73.97. 307,800 shares of the company were exchanged, compared to its average volume of 417,137. The company has a market cap of $5,370.00, a price-to-earnings ratio of 34.40 and a beta of 1.23. Aspen Technology has a 1-year low of $52.23 and a 1-year high of $74.05.

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

In other news, Director Jr. Robert M. Whelan sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.01, for a total transaction of $660,100.00. Following the completion of the sale, the director now owns 25,559 shares of the company’s stock, valued at approximately $1,687,149.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karl E. Johnsen sold 2,619 shares of the firm’s 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 sale, the insider now directly owns 40,063 shares of the company’s stock, valued at approximately $2,580,457.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,197 shares of company stock valued at $931,360. Company insiders own 0.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank grew its position in shares of Aspen Technology by 0.7% during the 2nd quarter. Amalgamated Bank now owns 9,635 shares of the technology company’s stock worth $532,000 after buying an additional 69 shares during the period. M&T Bank Corp grew its position in shares of Aspen Technology by 2.8% during the 2nd quarter. M&T Bank Corp now owns 5,834 shares of the technology company’s stock worth $322,000 after buying an additional 159 shares during the period. Quantbot Technologies LP grew its position in shares of Aspen Technology by 1.1% during the 2nd quarter. Quantbot Technologies LP now owns 20,663 shares of the technology company’s stock worth $1,141,000 after buying an additional 217 shares during the period. QS Investors LLC grew its position in shares of Aspen Technology by 0.4% during the 2nd quarter. QS Investors LLC now owns 81,019 shares of the technology company’s stock worth $4,477,000 after buying an additional 288 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Aspen Technology by 0.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 51,326 shares of the technology company’s stock worth $2,836,000 after buying an additional 293 shares during the period.

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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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