Aspen Technology (NASDAQ:AZPN) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday.
Several other research firms have also weighed in on AZPN. Canaccord Genuity increased their price target on shares of Aspen Technology from $62.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Robert W. Baird set a $63.00 price target on shares of Aspen Technology and gave the company a “hold” rating in a research report on Friday, October 6th. Berenberg Bank started coverage on shares of Aspen Technology in a research report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price target for the company. 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 research report on Tuesday, October 31st. Finally, Bank of America started coverage on shares of Aspen Technology in a research report on Monday, November 6th. They set a “neutral” rating and a $67.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.63.
Aspen Technology (NASDAQ:AZPN) traded down $0.02 on Tuesday, reaching $66.18. 245,586 shares of the company traded hands, compared to its average volume of 496,600. The company has a market capitalization of $4,800.00, a price-to-earnings ratio of 30.87 and a beta of 1.23. Aspen Technology has a one year low of $52.23 and a one year high of $69.38.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The company 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 revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. analysts anticipate that Aspen Technology will post 1.77 EPS for the current fiscal year.
In other Aspen Technology news, insider Karl E. Johnsen sold 2,619 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were 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 $2,580,457.83. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jr. Robert M. Whelan sold 10,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $66.01, for a total transaction of $660,100.00. Following the sale, the director now directly owns 25,559 shares in the company, valued at $1,687,149.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,197 shares of company stock worth $931,360. Insiders own 0.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZPN. First Manhattan Co. purchased a new stake in Aspen Technology during the third quarter valued at about $125,000. Paradigm Asset Management Co. LLC purchased a new stake in Aspen Technology during the second quarter valued at about $138,000. Pacad Investment Ltd. purchased a new stake in Aspen Technology during the second quarter valued at about $166,000. Advisor Group Inc. lifted its holdings in shares of Aspen Technology by 69.9% in the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock worth $173,000 after buying an additional 1,296 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Aspen Technology by 12.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock worth $183,000 after buying an additional 357 shares in the last quarter.
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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.
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