Aspen Technology’s (AZPN) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Aspen Technology (NASDAQ:AZPN) in a report released on Monday, The Fly reports. The firm currently has a $155.00 target price on the technology company’s stock, up from their previous target price of $146.00.

Other equities analysts also recently issued research reports about the company. Benchmark restated a buy rating and issued a $133.00 price objective (up previously from $113.00) on shares of Aspen Technology in a report on Wednesday, May 8th. BidaskClub downgraded Aspen Technology from a buy rating to a hold rating in a report on Thursday, August 1st. Canaccord Genuity increased their price objective on Aspen Technology from $110.00 to $126.00 and gave the stock a buy rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their target price on Aspen Technology from $114.00 to $131.00 and gave the stock an underweight rating in a research report on Thursday, August 8th. Finally, Bank of America reaffirmed a neutral rating and set a $136.00 target price (up previously from $130.00) on shares of Aspen Technology in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $129.88.

NASDAQ:AZPN opened at $133.60 on Monday. The stock’s 50 day moving average price is $131.78 and its 200 day moving average price is $115.25. Aspen Technology has a 52 week low of $74.84 and a 52 week high of $142.15. The company has a market capitalization of $9.42 billion, a P/E ratio of 36.13, a P/E/G ratio of 22.57 and a beta of 1.54.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.50. Aspen Technology had a return on equity of 60.30% and a net margin of 43.91%. The firm had revenue of $195.77 million for the quarter, compared to the consensus estimate of $162.71 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. On average, equities analysts predict that Aspen Technology will post 3.09 earnings per share for the current year.

In other Aspen Technology news, CFO Karl E. Johnsen sold 2,972 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $136.80, for a total transaction of $406,569.60. Following the completion of the sale, the chief financial officer now owns 22,150 shares of the company’s stock, valued at $3,030,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. AGF Investments LLC boosted its position in Aspen Technology by 1.5% during the second quarter. AGF Investments LLC now owns 6,427 shares of the technology company’s stock worth $799,000 after purchasing an additional 96 shares during the period. Bbva Compass Bancshares Inc. boosted 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 during the period. Zacks Investment Management boosted its position in shares of Aspen Technology by 0.6% in the second quarter. Zacks Investment Management now owns 23,563 shares of the technology company’s stock valued at $2,928,000 after acquiring an additional 149 shares during the period. Capital Investment Advisory Services LLC bought a new stake in shares of Aspen Technology in the second quarter valued at approximately $29,000. Finally, Squarepoint Ops LLC boosted 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 during the period. 98.28% of the stock is owned by hedge funds and other institutional investors.

Aspen Technology Company Profile

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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