BidaskClub Downgrades Aspen Technology (NASDAQ:AZPN) to Buy

BidaskClub cut shares of Aspen Technology (NASDAQ:AZPN) from a strong-buy rating to a buy rating in a research note published on Tuesday morning, BidAskClub reports.

Other equities analysts also recently issued reports about the company. Wedbush raised Aspen Technology from a neutral rating to an outperform rating and lifted their target price for the company from $104.00 to $131.00 in a research report on Thursday, April 25th. Benchmark reaffirmed a buy rating and issued a $133.00 target price (up from $113.00) on shares of Aspen Technology in a research report on Wednesday, May 8th. Zacks Investment Research downgraded Aspen Technology from a buy rating to a hold rating in a research report on Monday, May 6th. Canaccord Genuity lifted their target price on Aspen Technology from $110.00 to $126.00 and gave the company a buy rating in a research report on Thursday, April 25th. Finally, KeyCorp began coverage on Aspen Technology in a research report on Wednesday, April 10th. They issued an overweight rating and a $120.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $117.25.

Shares of NASDAQ:AZPN opened at $124.17 on Tuesday. The stock has a market cap of $8.59 billion, a P/E ratio of 60.28 and a beta of 1.58. Aspen Technology has a 12-month low of $74.84 and a 12-month high of $127.00.



Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $148.00 million during the quarter, compared to the consensus estimate of $136.38 million. Aspen Technology had a return on equity of 76.36% and a net margin of 37.25%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. Analysts predict that Aspen Technology will post 3.26 earnings per share for the current fiscal year.

In other Aspen Technology news, insider Karl E. Johnsen sold 3,037 shares of Aspen Technology stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $121.38, for a total value of $368,631.06. Following the completion of the transaction, the insider now directly owns 26,453 shares of the company’s stock, valued at approximately $3,210,865.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Antonio J. Pietri sold 44,754 shares of Aspen Technology stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $119.30, for a total value of $5,339,152.20. Following the completion of the transaction, the chief executive officer now directly owns 227,577 shares of the company’s stock, valued at $27,149,936.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,597 shares of company stock valued at $8,580,241. 0.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in AZPN. Norges Bank acquired a new position in shares of Aspen Technology during the fourth quarter worth about $54,448,000. Wedge Capital Management L L P NC acquired a new position in shares of Aspen Technology during the first quarter worth about $44,882,000. Brown Advisory Inc. grew its position in shares of Aspen Technology by 60.0% during the fourth quarter. Brown Advisory Inc. now owns 1,046,459 shares of the technology company’s stock worth $85,998,000 after buying an additional 392,444 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Aspen Technology by 32.3% during 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 buying an additional 386,376 shares in the last quarter. Finally, Vanguard Group Inc grew its position in shares of Aspen Technology by 5.5% during the third quarter. Vanguard Group Inc now owns 6,996,441 shares of the technology company’s stock worth $796,965,000 after buying an additional 362,193 shares in the last quarter. 97.47% of the stock is owned by institutional investors and hedge funds.

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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