BidaskClub Lowers Aspen Technology (NASDAQ:AZPN) to Sell

BidaskClub cut shares of Aspen Technology (NASDAQ:AZPN) from a hold rating to a sell rating in a report published on Thursday, BidAskClub reports.

AZPN has been the topic of several other research reports. JPMorgan Chase & Co. dropped their target price on shares of Aspen Technology from $131.00 to $123.00 and set an underweight rating on the stock in a report on Wednesday. Canaccord Genuity raised their target price on shares of Aspen Technology from $126.00 to $135.00 and gave the stock a buy rating in a report on Thursday. Bank of America restated a neutral rating and issued a $136.00 target price (up previously from $130.00) on shares of Aspen Technology in a report on Thursday, August 8th. ValuEngine cut shares of Aspen Technology from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Finally, Wedbush restated an outperform rating and issued a $155.00 target price (up previously from $146.00) on shares of Aspen Technology in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $134.57.

AZPN stock traded down $2.69 on Thursday, hitting $122.15. The company had a trading volume of 24,221 shares, compared to its average volume of 323,285. Aspen Technology has a 12-month low of $74.84 and a 12-month high of $142.15. The stock’s 50-day simple moving average is $133.23 and its 200 day simple moving average is $119.51. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 20.18 and a beta of 1.59.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Wednesday, August 7th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.50. Aspen Technology had a net margin of 43.91% and a return on equity of 60.30%. The company had revenue of $195.77 million for the quarter, compared to analysts’ expectations of $162.71 million. During the same quarter last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. Analysts anticipate that Aspen Technology will post 3.08 earnings per share for the current year.

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

Several institutional investors have recently modified their holdings of AZPN. William Blair Investment Management LLC boosted its stake 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 acquiring an additional 386,376 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Aspen Technology during the 2nd quarter worth $44,241,000. Riverbridge Partners LLC purchased a new position in shares of Aspen Technology during the 2nd quarter worth $22,156,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Aspen Technology by 2.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,072,554 shares of the technology company’s stock worth $754,697,000 after acquiring an additional 155,276 shares during the last quarter. Finally, BlackRock Inc. boosted its stake 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 acquiring an additional 141,490 shares during the last quarter. Institutional investors and hedge funds own 96.45% 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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