Aspen Technology, Inc. (AZPN) Now Covered by Bank of America Corporation

Bank of America Corporation initiated coverage on shares of Aspen Technology, Inc. (NASDAQ:AZPN) in a report released on Monday, November 6th, MarketBeat reports. The firm issued a neutral rating and a $67.00 target price on the technology company’s stock.

Several other analysts have also issued reports on the stock. Canaccord Genuity upped their price target on shares of Aspen Technology from $62.00 to $63.00 and gave the stock a hold rating in a research report on Friday, October 27th. Robert W. Baird set a $63.00 price target on shares of Aspen Technology and gave the stock a hold rating in a research report on Friday, October 6th. Berenberg Bank initiated coverage on shares of Aspen Technology in a report on Wednesday, August 23rd. They issued a buy rating and a $70.00 price objective on the stock. Zacks Investment Research upgraded shares of Aspen Technology from a sell rating to a hold rating in a report on Wednesday, August 9th. Finally, BidaskClub downgraded shares of Aspen Technology from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $63.63.

Aspen Technology (NASDAQ AZPN) opened at $68.94 on Monday. The firm has a market cap of $4,959.25, a P/E ratio of 31.80 and a beta of 1.23. Aspen Technology has a 1-year low of $51.32 and a 1-year high of $69.12.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The company had revenue of $122.80 million during the quarter, compared to analysts’ expectations of $121.73 million. Aspen Technology had a net margin of 33.35% and a negative return on equity of 66.74%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. equities research analysts expect that Aspen Technology will post 1.77 earnings per share for the current fiscal year.

In related news, Director Jr. Robert M. Whelan sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.01, for a total value of $660,100.00. Following the completion of the transaction, the director now owns 25,559 shares in the company, valued at approximately $1,687,149.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP F G. Hammond sold 1,578 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $65.00, for a total transaction of $102,570.00. Following the completion of the transaction, the vice president now owns 26,108 shares of the company’s stock, valued at approximately $1,697,020. The disclosure for this sale can be found here. Insiders sold 14,197 shares of company stock valued at $931,360 in the last three months. Company insiders own 0.60% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Aspen Technology by 15.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,984,783 shares of the technology company’s stock worth $250,285,000 after purchasing an additional 543,592 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Aspen Technology by 20.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock worth $130,441,000 after buying an additional 408,200 shares during the period. Pictet Asset Management Ltd. grew its position in Aspen Technology by 14.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,837,321 shares of the technology company’s stock valued at $115,402,000 after purchasing an additional 227,609 shares during the period. State Street Corp grew its position in Aspen Technology by 1.7% in the 2nd quarter. State Street Corp now owns 1,599,490 shares of the technology company’s stock valued at $88,389,000 after purchasing an additional 27,307 shares during the period. Finally, Koch Industries Inc. grew its position in Aspen Technology by 8,875.5% in the 2nd quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock valued at $1,164,000 after purchasing an additional 1,171,746 shares during the period.

TRADEMARK VIOLATION WARNING: This story was first reported by BBNS and is owned by of BBNS. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://baseballnewssource.com/markets/bank-of-america-corporation-begins-coverage-on-aspen-technology-inc-azpn/1762673.html.

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)

Receive News & Ratings for Aspen Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Phillies Sign Free Agent Carlos Santana
Phillies Sign Free Agent Carlos Santana
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle


Leave a Reply

 
© 2006-2017 BBNS.