Aspen Technology, Inc. (NASDAQ:AZPN) has been assigned a $63.00 price objective by equities research analysts at Robert W. Baird in a report issued on Friday. The brokerage currently has a “hold” rating on the technology company’s stock. Robert W. Baird’s price objective indicates a potential downside of 2.66% from the company’s current price.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Berenberg Bank assumed coverage on Aspen Technology in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $70.00 target price on the stock. Canaccord Genuity reaffirmed a “hold” rating on shares of Aspen Technology in a research note on Friday, August 11th. BidaskClub raised Aspen Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $59.00 target price on shares of Aspen Technology in a research note on Wednesday, June 28th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $61.50.
Shares of Aspen Technology (NASDAQ:AZPN) opened at 64.72 on Friday. The firm has a market cap of $4.73 billion, a PE ratio of 30.67 and a beta of 1.24. The company has a 50 day moving average price of $62.78 and a 200 day moving average price of $59.32. Aspen Technology has a 12-month low of $45.47 and a 12-month high of $64.87.
Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.29. Aspen Technology had a negative return on equity of 73.17% and a net margin of 33.58%. The firm had revenue of $123.68 million for the quarter, compared to analyst estimates of $119.55 million. During the same quarter in the prior year, the company earned $0.44 EPS. Aspen Technology’s revenue was up 8.8% on a year-over-year basis. On average, analysts forecast that Aspen Technology will post $1.99 earnings per share for the current fiscal year.
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In other Aspen Technology news, VP F G. Hammond sold 3,388 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total transaction of $205,312.80. Following the transaction, the vice president now owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karl E. Johnsen sold 1,969 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total value of $116,446.66. Following the transaction, the insider now directly owns 28,530 shares in the company, valued at approximately $1,687,264.20. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Cookson Peirce & Co. Inc. lifted its stake in shares of Aspen Technology by 51.0% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 6,230 shares of the technology company’s stock worth $344,000 after purchasing an additional 2,105 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Aspen Technology by 0.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 51,326 shares of the technology company’s stock worth $2,836,000 after purchasing an additional 293 shares during the period. Koch Industries Inc. lifted its stake in shares of Aspen Technology by 8,875.5% during the 2nd quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock worth $1,164,000 after purchasing an additional 1,171,746 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Aspen Technology during the 2nd quarter worth $2,107,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Aspen Technology during the 2nd quarter worth $530,000.
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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