Aspen Technology, Inc. (NASDAQ:AZPN) Receives $119.71 Consensus PT from Analysts

Aspen Technology, Inc. (NASDAQ:AZPN) has been assigned a consensus rating of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $119.71.

AZPN has been the subject of several recent analyst reports. Wedbush reiterated an “outperform” rating and set a $131.00 price objective on shares of Aspen Technology in a research note on Wednesday, May 15th. BidaskClub lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Benchmark reiterated a “buy” rating and set a $133.00 price objective (up previously from $113.00) on shares of Aspen Technology in a research note on Wednesday, May 8th. Zacks Investment Research lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Bank of America upgraded shares of Aspen Technology from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $88.00 to $116.00 in a research note on Tuesday, April 23rd.

Shares of NASDAQ:AZPN traded up $0.97 during trading hours on Friday, hitting $120.91. The company’s stock had a trading volume of 5,833 shares, compared to its average volume of 386,124. Aspen Technology has a 52 week low of $74.84 and a 52 week high of $127.00. The firm has a market capitalization of $8.27 billion, a P/E ratio of 59.00 and a beta of 1.58. The company’s fifty day moving average is $118.59.



Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Aspen Technology had a net margin of 37.25% and a return on equity of 76.36%. The business had revenue of $148.00 million during the quarter, compared to analyst estimates of $136.38 million. During the same quarter in the previous year, the business posted $0.52 EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts predict that Aspen Technology will post 3.26 earnings per share for the current fiscal year.

In other Aspen Technology news, CEO Antonio J. Pietri sold 5,900 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $118.81, for a total transaction of $700,979.00. Following the transaction, the chief executive officer now owns 207,497 shares in the company, valued at approximately $24,652,718.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP F G. Hammond sold 8,406 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $121.34, for a total transaction of $1,019,984.04. Following the transaction, the vice president now owns 24,221 shares in the company, valued at approximately $2,938,976.14. The disclosure for this sale can be found here. Insiders have sold a total of 71,597 shares of company stock worth $8,580,241 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc increased its stake in Aspen Technology by 9.0% during the 4th quarter. Legal & General Group Plc now owns 136,713 shares of the technology company’s stock valued at $11,235,000 after purchasing an additional 11,248 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Aspen Technology by 5.5% in the 3rd quarter. Vanguard Group Inc now owns 6,996,441 shares of the technology company’s stock valued at $796,965,000 after acquiring an additional 362,193 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Aspen Technology by 0.4% in the 4th quarter. Stifel Financial Corp now owns 107,233 shares of the technology company’s stock valued at $8,828,000 after acquiring an additional 396 shares during the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of Aspen Technology by 5.2% in the 4th quarter. Standard Life Aberdeen plc now owns 565,805 shares of the technology company’s stock valued at $45,830,000 after acquiring an additional 28,091 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd boosted its holdings in shares of Aspen Technology by 8.8% in the 1st quarter. MARSHALL WACE ASIA Ltd now owns 587,612 shares of the technology company’s stock valued at $61,264,000 after acquiring an additional 47,553 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Aspen Technology Company Profile

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.

Featured Article: Penny Stocks, Risk and Reward Factors

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

Receive News & Ratings for Aspen Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology and related companies with MarketBeat.com's FREE daily email newsletter.