Wedbush reissued their outperform rating on shares of Aspen Technology (NASDAQ:AZPN) in a research report sent to investors on Monday, The Fly reports. Wedbush currently has a $155.00 price target on the technology company’s stock, up from their prior price target of $146.00.
A number of other analysts have also weighed in on AZPN. BidaskClub lowered Aspen Technology from a buy rating to a hold rating in a research note on Thursday, August 1st. Bank of America restated a neutral rating and issued a $136.00 target price (up from $130.00) on shares of Aspen Technology in a research note on Thursday, August 8th. Zacks Investment Research lowered Aspen Technology from a buy rating to a hold rating in a research note on Monday, May 6th. Canaccord Genuity raised their target price on Aspen Technology from $110.00 to $126.00 and gave the company a buy rating in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their target price on Aspen Technology from $114.00 to $131.00 and gave the company an underweight rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $129.88.
Shares of NASDAQ:AZPN opened at $133.60 on Monday. Aspen Technology has a twelve month low of $74.84 and a twelve month high of $142.15. The firm has a market cap of $9.42 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 22.57 and a beta of 1.54. The business has a fifty day moving average of $131.78 and a 200-day moving average of $115.25.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Wednesday, August 7th. The technology company reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.50. Aspen Technology had a return on equity of 60.30% and a net margin of 43.91%. The company had revenue of $195.77 million during the quarter, compared to analyst estimates of $162.71 million. During the same period last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. On average, analysts predict that Aspen Technology will post 3.09 EPS for the current fiscal year.
In related news, CFO Karl E. Johnsen sold 2,972 shares of Aspen Technology stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $136.80, for a total value of $406,569.60. Following the completion of the sale, the chief financial officer now directly owns 22,150 shares in the company, valued at $3,030,120. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in AZPN. Wedge Capital Management L L P NC acquired a new stake in Aspen Technology in the first quarter worth about $44,882,000. William Blair Investment Management LLC increased its position in Aspen Technology by 32.3% in the first quarter. William Blair Investment Management LLC now owns 1,582,680 shares of the technology company’s stock worth $165,010,000 after purchasing an additional 386,376 shares during the period. Nuveen Asset Management LLC acquired a new stake in Aspen Technology in the second quarter worth about $44,241,000. Riverbridge Partners LLC acquired a new stake in Aspen Technology in the second quarter worth about $22,156,000. Finally, BlackRock Inc. increased its position in Aspen Technology by 3.8% in the second quarter. BlackRock Inc. now owns 3,877,106 shares of the technology company’s stock worth $481,849,000 after purchasing an additional 141,490 shares during the period. Hedge funds and other institutional investors own 98.28% 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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