Aspen Technology (NASDAQ:AZPN) Earns Buy Rating from Benchmark

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Benchmark reissued their buy rating on shares of Aspen Technology (NASDAQ:AZPN) in a research report report published on Monday morning, Briefing.com Automated Import reports. The firm currently has a $152.00 target price on the technology company’s stock, up from their prior target price of $133.00.

A number of other equities analysts have also recently issued reports on AZPN. JPMorgan Chase & Co. upped their target price on Aspen Technology from $114.00 to $131.00 and gave the stock an underweight rating in a report on Thursday, August 8th. Zacks Investment Research cut Aspen Technology from a buy rating to a hold rating in a report on Monday, May 6th. ValuEngine cut Aspen Technology from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Bank of America reaffirmed a neutral rating and issued a $136.00 target price (up previously from $130.00) on shares of Aspen Technology in a report on Thursday, August 8th. Finally, BidaskClub cut Aspen Technology from a buy rating to a hold rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Aspen Technology has an average rating of Buy and a consensus target price of $129.88.

NASDAQ:AZPN opened at $133.60 on Monday. The stock has a fifty day moving average price of $131.78 and a 200-day moving average price of $115.25. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 22.57 and a beta of 1.54. Aspen Technology has a fifty-two week low of $74.84 and a fifty-two week high of $142.15.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.50. Aspen Technology had a return on equity of 60.30% and a net margin of 43.91%. The business had revenue of $195.77 million during the quarter, compared to the consensus estimate of $162.71 million. During the same period in the prior year, the company earned $0.59 EPS. Aspen Technology’s revenue for the quarter was up 23.1% on a year-over-year basis. On average, analysts expect that Aspen Technology will post 3.09 EPS for the current fiscal year.

In other news, CFO Karl E. Johnsen sold 2,972 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $136.80, for a total value of $406,569.60. Following the completion of the sale, the chief financial officer now owns 22,150 shares of the company’s stock, valued at $3,030,120. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. AGF Investments LLC increased its stake in shares of Aspen Technology by 1.5% in the second quarter. AGF Investments LLC now owns 6,427 shares of the technology company’s stock valued at $799,000 after buying an additional 96 shares during the period. Bbva Compass Bancshares Inc. increased its stake in shares of Aspen Technology by 1.8% in the first quarter. Bbva Compass Bancshares Inc. now owns 5,701 shares of the technology company’s stock valued at $594,000 after buying an additional 100 shares during the period. Zacks Investment Management increased its stake in shares of Aspen Technology by 0.6% in the second quarter. Zacks Investment Management now owns 23,563 shares of the technology company’s stock valued at $2,928,000 after buying an additional 149 shares during the period. Capital Investment Advisory Services LLC acquired a new stake in shares of Aspen Technology in the second quarter valued at about $29,000. Finally, Squarepoint Ops LLC increased its stake in shares of Aspen Technology by 8.5% in the fourth quarter. Squarepoint Ops LLC now owns 2,900 shares of the technology company’s stock valued at $238,000 after buying an additional 227 shares during the period. 98.28% of the stock is owned by 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.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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