Aspen Technology, Inc. (NASDAQ:AZPN) Receives $130.14 Average Target Price from Analysts

Aspen Technology, Inc. (NASDAQ:AZPN) has been assigned an average recommendation of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $134.14.

A number of research firms recently weighed in on AZPN. Benchmark reissued a “buy” rating and set a $152.00 target price (up from $133.00) on shares of Aspen Technology in a report on Monday. Canaccord Genuity boosted their target price on Aspen Technology from $110.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. KeyCorp boosted their target price on Aspen Technology from $124.00 to $141.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. BidaskClub lowered Aspen Technology from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, ValuEngine lowered Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st.

Shares of AZPN stock traded up $0.66 during trading on Friday, reaching $132.37. 6,325 shares of the company’s stock were exchanged, compared to its average volume of 444,916. The stock has a market capitalization of $9.40 billion, a PE ratio of 35.15, a PEG ratio of 22.53 and a beta of 1.54. Aspen Technology has a twelve month low of $74.84 and a twelve month high of $142.15. The business has a fifty day moving average price of $131.54.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Wednesday, August 7th. The technology company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.50. The business had revenue of $195.77 million for the quarter, compared to analyst estimates of $162.71 million. Aspen Technology had a return on equity of 60.30% and a net margin of 43.91%. The firm’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. Analysts forecast that Aspen Technology will post 3.09 EPS for the current fiscal year.

In other Aspen Technology news, CFO Karl E. Johnsen sold 2,972 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $136.80, for a total value of $406,569.60. Following the transaction, the chief financial officer now directly owns 22,150 shares of the company’s stock, valued at approximately $3,030,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AZPN. Wedge Capital Management L L P NC acquired a new position in Aspen Technology in the 1st quarter valued at $44,882,000. William Blair Investment Management LLC grew its holdings in shares of Aspen Technology by 32.3% during the 1st quarter. William Blair Investment Management LLC now owns 1,582,680 shares of the technology company’s stock worth $165,010,000 after purchasing an additional 386,376 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Aspen Technology during the 2nd quarter worth $44,241,000. Riverbridge Partners LLC acquired a new stake in shares of Aspen Technology during the 2nd quarter worth $22,156,000. Finally, BlackRock Inc. grew its holdings in shares of Aspen Technology by 3.8% during the 2nd quarter. BlackRock Inc. now owns 3,877,106 shares of the technology company’s stock worth $481,849,000 after purchasing an additional 141,490 shares in the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

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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