Aspen Technology (AZPN) Rating Lowered to Buy at BidaskClub

BidaskClub cut shares of Aspen Technology (NASDAQ:AZPN) from a strong-buy rating to a buy rating in a report issued on Wednesday morning.

Several other research analysts have also recently commented on AZPN. Zacks Investment Research cut Aspen Technology from a hold rating to a sell rating in a research report on Tuesday, December 26th. JPMorgan Chase & Co. increased their price target on Aspen Technology to $65.00 and gave the company an underweight rating in a research report on Wednesday, January 3rd. KeyCorp reissued a buy rating and set a $83.00 price target (up from $73.00) on shares of Aspen Technology in a research report on Monday, January 8th. Robert W. Baird reissued a hold rating on shares of Aspen Technology in a research report on Wednesday, January 24th. Finally, Wedbush reissued a neutral rating and set a $74.00 price target (up from $65.00) on shares of Aspen Technology in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $72.67.

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AZPN stock opened at $77.44 on Wednesday. Aspen Technology has a 52-week low of $53.51 and a 52-week high of $84.40. The company has a market capitalization of $5,683.17, a P/E ratio of 35.36, a P/E/G ratio of 3.82 and a beta of 1.25.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.50 by $0.09. Aspen Technology had a negative return on equity of 61.97% and a net margin of 33.23%. The firm had revenue of $124.90 million during the quarter, compared to analysts’ expectations of $121.81 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. equities research analysts anticipate that Aspen Technology will post 1.97 EPS for the current fiscal year.

In other news, CEO Antonio J. Pietri sold 26,900 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $76.56, for a total value of $2,059,464.00. Following the completion of the sale, the chief executive officer now directly owns 250,416 shares of the company’s stock, valued at $19,171,848.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karl E. Johnsen sold 2,304 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.00, for a total value of $172,800.00. Following the completion of the sale, the insider now directly owns 36,180 shares of the company’s stock, valued at $2,713,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,308 shares of company stock valued at $3,929,379. Insiders own 0.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legato Capital Management LLC acquired a new stake in shares of Aspen Technology in the fourth quarter valued at approximately $203,000. Zeke Capital Advisors LLC bought a new position in shares of Aspen Technology during the fourth quarter worth approximately $204,000. Tocqueville Asset Management L.P. bought a new position in shares of Aspen Technology during the fourth quarter worth approximately $209,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Aspen Technology during the fourth quarter worth approximately $224,000. Finally, Moneta Group Investment Advisors LLC bought a new position in shares of Aspen Technology during the third quarter worth approximately $226,000.

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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.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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