Aspen Technology Inc. (NASDAQ:AZPN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Aspen Technology Inc. is a recognized expert and leading provider of award-winning process optimization software and services. AspenTech’s integrated aspenONE solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to-end throughout the engineering, plant operations, and supply chain management processes, resulting in millions of dollars in cost savings. “
Separately, Avondale Partners lowered shares of Aspen Technology from a “market perform” rating to an “underperform” rating and lifted their price objective for the stock from $39.00 to $42.00 in a research note on Friday, August 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Aspen Technology has a consensus rating of “Hold” and a consensus price target of $40.71.
Aspen Technology (NASDAQ:AZPN) traded down 0.52% during mid-day trading on Wednesday, reaching $46.07. 444,175 shares of the company traded hands. The stock’s 50-day moving average price is $46.09 and its 200-day moving average price is $41.03. Aspen Technology has a one year low of $29.25 and a one year high of $48.08. The firm has a market cap of $3.67 billion, a PE ratio of 27.42 and a beta of 1.06.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. Aspen Technology had a net margin of 29.63% and a negative return on equity of 297.67%. The business had revenue of $113.70 million for the quarter, compared to analyst estimates of $112.88 million. During the same quarter last year, the firm earned $0.39 EPS. Aspen Technology’s quarterly revenue was down .4% compared to the same quarter last year. Analysts forecast that Aspen Technology will post $1.80 earnings per share for the current fiscal year.
In other Aspen Technology news, CEO Antonio J. Pietri sold 4,500 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $45.03, for a total value of $202,635.00. Following the transaction, the chief executive officer now directly owns 152,750 shares in the company, valued at $6,878,332.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP F G. Hammond sold 18,542 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $45.91, for a total transaction of $851,263.22. Following the completion of the transaction, the vice president now owns 48,885 shares in the company, valued at $2,244,310.35. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Pacific Global Investment Management CO increased its position in Aspen Technology by 3.8% in the first quarter. Pacific Global Investment Management CO now owns 14,255 shares of the company’s stock valued at $515,000 after buying an additional 520 shares in the last quarter. Quadrature Capital Ltd bought a new position in Aspen Technology during the first quarter valued at approximately $261,000. UBS Group AG increased its position in Aspen Technology by 24.3% in the first quarter. UBS Group AG now owns 43,574 shares of the company’s stock valued at $1,574,000 after buying an additional 8,530 shares in the last quarter. State Street Corp increased its position in Aspen Technology by 2.8% in the first quarter. State Street Corp now owns 1,667,966 shares of the company’s stock valued at $60,261,000 after buying an additional 45,732 shares in the last quarter. Finally, Zebra Capital Management LLC bought a new position in Aspen Technology during the first quarter valued at approximately $611,000.
Aspen Technology Company Profile
Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.
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