Aspen Technology (NASDAQ:AZPN) Given Buy Rating at KeyCorp

KeyCorp restated their buy rating on shares of Aspen Technology (NASDAQ:AZPN) in a research note issued to investors on Monday, January 8th. KeyCorp currently has a $83.00 price target on the technology company’s stock, up from their previous price target of $73.00.

AZPN has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Aspen Technology from a buy rating to a hold rating in a research report on Wednesday, November 1st. Bank of America initiated coverage on shares of Aspen Technology in a research report on Monday, November 6th. They set a neutral rating and a $67.00 target price on the stock. BidaskClub downgraded shares of Aspen Technology from a buy rating to a hold rating in a research report on Tuesday, December 12th. JPMorgan Chase & Co. boosted their price target on shares of Aspen Technology to $65.00 and gave the company an underweight rating in a research note on Wednesday, January 3rd. Finally, Robert W. Baird set a $63.00 price target on shares of Aspen Technology and gave the company a hold rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $66.60.

Aspen Technology (NASDAQ AZPN) opened at $75.12 on Monday. Aspen Technology has a 1-year low of $52.23 and a 1-year high of $75.54. The company has a market cap of $5,448.86, a PE ratio of 34.94 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.05. Aspen Technology had a net margin of 33.35% and a negative return on equity of 66.74%. The company had revenue of $122.80 million for the quarter, compared to analyst estimates of $121.73 million. During the same period in the previous year, the firm posted $0.49 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. equities analysts anticipate that Aspen Technology will post 1.83 EPS for the current year.

In other news, Director Jr. Robert M. Whelan sold 10,000 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $66.01, for a total value of $660,100.00. Following the sale, the director now directly owns 25,559 shares of the company’s stock, valued at $1,687,149.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP F G. Hammond sold 1,578 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $65.00, for a total transaction of $102,570.00. Following the completion of the sale, the vice president now directly owns 26,108 shares in the company, valued at $1,697,020. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,197 shares of company stock valued at $931,360. Company insiders own 0.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. First Manhattan Co. bought a new position in Aspen Technology during the third quarter valued at approximately $125,000. Pacad Investment Ltd. bought a new position in Aspen Technology during the second quarter valued at approximately $166,000. Advisor Group Inc. grew its position in Aspen Technology by 69.9% during the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock valued at $173,000 after acquiring an additional 1,296 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Aspen Technology by 12.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock valued at $183,000 after acquiring an additional 357 shares during the last quarter. Finally, Parametrica Management Ltd bought a new position in Aspen Technology during the third quarter valued at approximately $203,000.

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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.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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