Aspen Technology, Inc. (NASDAQ:AZPN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have been given a consensus rating of “Buy” by the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $121.86.

Several analysts recently commented on AZPN shares. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Wedbush set a $19.00 price objective on Symantec and gave the stock a “hold” rating in a report on Monday, July 15th. Bank of America set a $64.00 price objective on Verizon Communications and gave the stock a “buy” rating in a report on Tuesday, April 23rd. BidaskClub lowered Zebra Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Canaccord Genuity cut their price objective on Delta 9 Cannabis from C$2.40 to C$2.20 in a report on Thursday, April 25th.

In related news, insider Karl E. Johnsen sold 3,037 shares of Aspen Technology stock in a transaction on Monday, April 29th. The stock was sold at an average price of $121.38, for a total transaction of $368,631.06. Following the transaction, the insider now directly owns 26,453 shares in the company, valued at $3,210,865.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Antonio J. Pietri sold 44,754 shares of Aspen Technology stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $119.30, for a total value of $5,339,152.20. Following the transaction, the chief executive officer now owns 227,577 shares in the company, valued at $27,149,936.10. The disclosure for this sale can be found here. Insiders have sold 71,597 shares of company stock worth $8,580,241 over the last quarter. 0.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bbva Compass Bancshares Inc. lifted its position in shares of Aspen Technology by 1.8% in the first quarter. Bbva Compass Bancshares Inc. now owns 5,701 shares of the technology company’s stock valued at $594,000 after acquiring an additional 100 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Aspen Technology by 8.5% in the fourth quarter. Squarepoint Ops LLC now owns 2,900 shares of the technology company’s stock valued at $238,000 after acquiring an additional 227 shares in the last quarter. Cerebellum GP LLC lifted its position in shares of Aspen Technology by 13.5% in the first quarter. Cerebellum GP LLC now owns 3,287 shares of the technology company’s stock valued at $343,000 after acquiring an additional 390 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Aspen Technology by 0.4% in the fourth quarter. Stifel Financial Corp now owns 107,233 shares of the technology company’s stock valued at $8,828,000 after acquiring an additional 396 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Aspen Technology by 0.4% in the fourth quarter. Bank of America Corp DE now owns 114,702 shares of the technology company’s stock valued at $9,427,000 after acquiring an additional 504 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

Shares of AZPN traded down $1.12 during trading hours on Tuesday, hitting $134.05. The stock had a trading volume of 299,469 shares, compared to its average volume of 355,867. Aspen Technology has a 12 month low of $74.84 and a 12 month high of $136.48. The company has a market cap of $9.24 billion, a price-to-earnings ratio of 65.07 and a beta of 1.56. The firm has a fifty day moving average price of $125.03.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.10. Aspen Technology had a return on equity of 76.36% and a net margin of 37.25%. The company had revenue of $148.00 million during the quarter, compared to analyst estimates of $136.38 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. Aspen Technology’s revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts forecast that Aspen Technology will post 3.26 earnings per share for the current fiscal year.

About Aspen Technology

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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