Bank of America Corporation started coverage on shares of Aspen Technology, Inc. (NASDAQ:AZPN) in a research report released on Monday, November 6th, MarketBeat reports. The firm issued a neutral rating and a $67.00 price target on the technology company’s stock.
Several other equities analysts also recently commented on AZPN. Canaccord Genuity reiterated a hold rating on shares of Aspen Technology in a report on Friday, August 11th. BidaskClub raised Aspen Technology from a buy rating to a strong-buy rating in a report on Tuesday, August 8th. Zacks Investment Research raised Aspen Technology from a hold rating to a buy rating and set a $67.00 price objective for the company in a report on Wednesday, August 16th. Berenberg Bank began coverage on Aspen Technology in a report on Wednesday, August 23rd. They issued a buy rating and a $70.00 price target for the company. Finally, Robert W. Baird set a $63.00 target price on Aspen Technology and gave the stock a hold rating in a research report on Friday, October 6th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $63.00.
Aspen Technology (NASDAQ AZPN) traded up $0.55 during mid-day trading on Monday, reaching $67.29. 350,677 shares of the company’s stock were exchanged, compared to its average volume of 507,639. Aspen Technology has a 52 week low of $51.32 and a 52 week high of $68.32. The stock has a market capitalization of $4,880.88, a price-to-earnings ratio of 31.30 and a beta of 1.23.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $121.73 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. analysts anticipate that Aspen Technology will post 1.77 earnings per share for the current fiscal year.
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In other news, VP F G. Hammond sold 3,388 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total value of $205,312.80. Following the completion of the sale, the vice president now owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP F G. Hammond sold 1,578 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $65.00, for a total value of $102,570.00. Following the completion of the sale, the vice president now directly owns 26,108 shares of the company’s stock, valued at approximately $1,697,020. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,585 shares of company stock valued at $1,136,673. 0.60% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System grew its stake in shares of Aspen Technology by 7.8% in the 3rd quarter. California Public Employees Retirement System now owns 207,667 shares of the technology company’s stock worth $13,044,000 after buying an additional 14,967 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Aspen Technology by 2.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 38,799 shares of the technology company’s stock valued at $2,437,000 after purchasing an additional 818 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Aspen Technology during the 3rd quarter valued at $371,000. Oribel Capital Management LP bought a new position in shares of Aspen Technology during the 3rd quarter valued at $6,840,000. Finally, Boothbay Fund Management LLC lifted its holdings in shares of Aspen Technology by 266.5% during the 3rd quarter. Boothbay Fund Management LLC now owns 28,587 shares of the technology company’s stock valued at $1,796,000 after buying an additional 20,788 shares during the period.
Aspen Technology Company Profile
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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