Wedbush Boosts Aspen Technology (NASDAQ:AZPN) Price Target to $154.00

Aspen Technology (NASDAQ:AZPN) had its price objective upped by Wedbush from $145.00 to $154.00 in a research note published on Tuesday, 24/7 WallStreet reports. They currently have a positive rating on the technology company’s stock.

A number of other research firms have also recently commented on AZPN. KeyCorp increased their target price on Aspen Technology from $141.00 to $145.00 and gave the stock an overweight rating in a research note on Friday, January 10th. BidaskClub raised Aspen Technology from a strong sell rating to a sell rating in a research report on Tuesday, January 7th. Finally, ValuEngine raised Aspen Technology from a sell rating to a hold rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Aspen Technology currently has an average rating of Hold and an average price target of $135.00.

Shares of NASDAQ AZPN traded down $0.69 on Tuesday, reaching $139.71. 8,538 shares of the company’s stock traded hands, compared to its average volume of 484,318. The business’s 50 day simple moving average is $124.94 and its two-hundred day simple moving average is $125.89. Aspen Technology has a 12 month low of $88.41 and a 12 month high of $142.32. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 37.12 and a beta of 1.52. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.07.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.30. The firm had revenue of $134.09 million for the quarter, compared to analysts’ expectations of $119.49 million. Aspen Technology had a return on equity of 67.12% and a net margin of 43.83%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. Analysts forecast that Aspen Technology will post 3.32 earnings per share for the current fiscal year.

In other Aspen Technology news, CFO Karl E. Johnsen sold 2,310 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $116.82, for a total value of $269,854.20. Following the completion of the transaction, the chief financial officer now owns 28,667 shares of the company’s stock, valued at approximately $3,348,878.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC lifted its holdings in shares of Aspen Technology by 37.3% during the 4th quarter. Cerebellum GP LLC now owns 4,373 shares of the technology company’s stock valued at $529,000 after buying an additional 1,189 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Aspen Technology by 2.7% during the 4th quarter. Wedge Capital Management L L P NC now owns 370,066 shares of the technology company’s stock valued at $44,752,000 after buying an additional 9,654 shares during the period. Alpha Windward LLC bought a new position in shares of Aspen Technology during the 4th quarter valued at $509,000. Allred Capital Management LLC bought a new position in shares of Aspen Technology during the 4th quarter valued at $33,000. Finally, Copper Rock Capital Partners LLC lifted its holdings in shares of Aspen Technology by 9.9% during the 4th quarter. Copper Rock Capital Partners LLC now owns 188,956 shares of the technology company’s stock valued at $22,850,000 after buying an additional 17,063 shares during the period. 97.09% of the stock is currently owned by hedge funds and other institutional investors.

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 Story: What is the S&P/ASX 200 Index?

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.