Aspen Technology (NASDAQ:AZPN) Earns Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of Aspen Technology (NASDAQ:AZPN) in a research note issued to investors on Monday morning, Briefing.com Automated Import reports. Benchmark currently has a $152.00 price target on the technology company’s stock, up from their previous price target of $133.00.

A number of other research analysts have also weighed in on AZPN. 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. Zacks Investment Research lowered Aspen Technology from a buy rating to a hold rating in a report on Monday, May 6th. KeyCorp raised their target price on Aspen Technology from $124.00 to $141.00 and gave the company an overweight rating in a report on Thursday, August 8th. ValuEngine lowered Aspen Technology from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Finally, 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $129.88.

AZPN stock 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 stock’s 50 day moving average is $131.78 and its 200-day moving average is $115.25. The firm has a market capitalization of $9.42 billion, a PE ratio of 36.13, a P/E/G ratio of 22.57 and a beta of 1.54.



Aspen Technology (NASDAQ:AZPN) last posted 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 for the quarter, compared to analyst estimates of $162.71 million. During the same quarter last year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, research analysts expect that Aspen Technology will post 3.09 EPS for the current year.

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

Several institutional investors and hedge funds have recently modified their holdings of AZPN. Capital Investment Advisory Services LLC purchased a new stake in shares of Aspen Technology during the second quarter valued at approximately $29,000. Ellis Investment Partners LLC purchased a new stake in shares of Aspen Technology during the first quarter valued at approximately $33,000. Kavar Capital Partners LLC purchased a new stake in shares of Aspen Technology during the second quarter valued at approximately $54,000. Daiwa Securities Group Inc. purchased a new stake in shares of Aspen Technology during the second quarter valued at approximately $68,000. Finally, Parkside Financial Bank & Trust purchased a new stake in shares of Aspen Technology during the second quarter valued at approximately $74,000. 98.28% of the stock is owned by institutional investors.

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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