BidaskClub upgraded shares of Aspen Technology (NASDAQ:AZPN) from a buy rating to a strong-buy rating in a report released on Saturday, March 10th.
AZPN has been the subject of a number of other reports. Bank of America downgraded shares of Aspen Technology from a neutral rating to an underperform rating in a research note on Thursday, January 25th. They noted that the move was a valuation call. KeyCorp upped their target price on shares of Aspen Technology from $83.00 to $88.00 and gave the company an overweight rating in a research note on Thursday, January 25th. ValuEngine upgraded shares of Aspen Technology from a hold rating to a buy rating in a research note on Thursday, March 1st. Zacks Investment Research cut shares of Aspen Technology from a hold rating to a sell rating in a report on Tuesday, December 26th. Finally, Berenberg Bank reaffirmed a buy rating and issued a $88.00 price objective (up previously from $77.00) on shares of Aspen Technology in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $72.67.
Aspen Technology stock opened at $80.57 on Friday. The stock has a market cap of $5,816.98, a price-to-earnings ratio of 36.79, a price-to-earnings-growth ratio of 3.91 and a beta of 1.25. Aspen Technology has a 52-week low of $53.51 and a 52-week high of $84.40.
In other Aspen Technology news, insider Karl E. Johnsen sold 2,304 shares of Aspen Technology stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $75.00, for a total transaction of $172,800.00. Following the sale, the insider now owns 36,180 shares in the company, valued at $2,713,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Antonio J. Pietri sold 26,900 shares of Aspen Technology stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.56, for a total transaction of $2,059,464.00. Following the sale, the chief executive officer now owns 250,416 shares in the company, valued at approximately $19,171,848.96. The disclosure for this sale can be found here. Insiders have sold 52,308 shares of company stock valued at $3,929,379 over the last ninety days. Insiders own 0.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AZPN. American Century Companies Inc. bought a new position in shares of Aspen Technology during the third quarter valued at $4,247,000. Alps Advisors Inc. acquired a new stake in Aspen Technology in the third quarter worth about $458,000. FDx Advisors Inc. acquired a new stake in Aspen Technology in the third quarter worth about $259,000. BNP Paribas Arbitrage SA increased its position in Aspen Technology by 59.5% in the third quarter. BNP Paribas Arbitrage SA now owns 15,373 shares of the technology company’s stock worth $966,000 after purchasing an additional 5,737 shares during the period. Finally, Rhumbline Advisers increased its position in Aspen Technology by 1.7% in the third quarter. Rhumbline Advisers now owns 100,760 shares of the technology company’s stock worth $6,329,000 after purchasing an additional 1,646 shares during the period.
About Aspen Technology
Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.
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