BidaskClub Downgrades Aspen Technology (AZPN) to Hold

BidaskClub lowered shares of Aspen Technology (NASDAQ:AZPN) from a buy rating to a hold rating in a report issued on Tuesday.

Several other analysts have also recently commented on the company. Wedbush boosted their price target on Aspen Technology from $80.00 to $106.00 and gave the stock a neutral rating in a research report on Friday, August 10th. Berenberg Bank dropped their price target on Aspen Technology from $127.00 to $98.00 and set a buy rating for the company in a research report on Tuesday, August 21st. ValuEngine cut Aspen Technology from a strong-buy rating to a buy rating in a research report on Monday, July 2nd. Canaccord Genuity boosted their price target on Aspen Technology from $84.00 to $100.00 and gave the stock a hold rating in a research report on Friday, August 17th. Finally, Zacks Investment Research upgraded Aspen Technology from a hold rating to a buy rating and set a $119.00 price target for the company in a research report on Tuesday, August 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $97.63.

Shares of AZPN traded up $1.23 during trading hours on Tuesday, hitting $101.63. 658,495 shares of the stock were exchanged, compared to its average volume of 490,080. Aspen Technology has a 12-month low of $61.71 and a 12-month high of $118.86. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 49.33, a PEG ratio of 2.42 and a beta of 1.27.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. Aspen Technology had a negative return on equity of 53.91% and a net margin of 29.77%. The firm had revenue of $125.96 million during the quarter, compared to analysts’ expectations of $125.60 million. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts predict that Aspen Technology will post 2.85 EPS for the current year.

In other Aspen Technology news, Director Gary E. Haroian sold 10,058 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $107.30, for a total value of $1,079,223.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP F G. Hammond sold 3,311 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $107.51, for a total value of $355,965.61. Following the completion of the sale, the vice president now owns 21,029 shares of the company’s stock, valued at $2,260,827.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,250 shares of company stock valued at $3,595,936. 0.80% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Aspen Technology by 5.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,862,800 shares of the technology company’s stock valued at $358,236,000 after buying an additional 194,900 shares in the last quarter. FMR LLC grew its holdings in shares of Aspen Technology by 12.8% during the 2nd quarter. FMR LLC now owns 2,208,130 shares of the technology company’s stock worth $204,782,000 after purchasing an additional 250,691 shares during the period. Brown Advisory Inc. grew its holdings in shares of Aspen Technology by 4.3% during the 2nd quarter. Brown Advisory Inc. now owns 747,207 shares of the technology company’s stock worth $69,296,000 after purchasing an additional 30,579 shares during the period. Alkeon Capital Management LLC grew its holdings in shares of Aspen Technology by 6.4% during the 1st quarter. Alkeon Capital Management LLC now owns 626,894 shares of the technology company’s stock worth $49,455,000 after purchasing an additional 37,500 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Aspen Technology during the 2nd quarter worth $53,964,000. Institutional investors own 98.40% of the company’s stock.

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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