Aspen Technology’s (AZPN) “Buy” Rating Reaffirmed at Benchmark

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Benchmark reiterated their buy rating on shares of Aspen Technology (NASDAQ:AZPN) in a report issued on Thursday. The firm currently has a $110.00 price target on the technology company’s stock.

Several other analysts have also recently issued reports on AZPN. Canaccord Genuity upgraded shares of Aspen Technology from a hold rating to a buy rating and set a $100.00 target price on the stock in a research note on Wednesday, November 28th. BidaskClub upgraded shares of Aspen Technology from a sell rating to a hold rating in a research note on Thursday, December 13th. Zacks Investment Research upgraded shares of Aspen Technology from a hold rating to a buy rating and set a $100.00 target price on the stock in a research note on Monday, January 21st. Finally, Wedbush reiterated a neutral rating and issued a $99.00 target price (down from $104.00) on shares of Aspen Technology in a research note on Thursday, January 24th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Aspen Technology presently has a consensus rating of Buy and an average price target of $106.14.

Shares of AZPN stock traded up $0.97 during trading on Thursday, reaching $102.28. 6,674 shares of the company’s stock traded hands, compared to its average volume of 456,890. Aspen Technology has a 1 year low of $74.84 and a 1 year high of $118.86. The stock has a market capitalization of $7.06 billion, a P/E ratio of 49.65 and a beta of 1.56.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Wednesday, January 23rd. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.29. Aspen Technology had a net margin of 34.19% and a return on equity of 204.42%. The business had revenue of $140.42 million for the quarter, compared to analysts’ expectations of $122.04 million. During the same period in the prior year, the company posted $1.88 EPS. The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Aspen Technology will post 3.24 EPS for the current fiscal year.

In other Aspen Technology news, Director Donald P. Casey sold 5,710 shares of the business’s stock in a transaction on Monday, January 28th. The shares were sold at an average price of $97.11, for a total transaction of $554,498.10. Following the transaction, the director now owns 11,779 shares in the company, valued at $1,143,858.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Antonio J. Pietri sold 7,095 shares of the company’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $99.49, for a total transaction of $705,881.55. Following the completion of the transaction, the chief executive officer now owns 237,920 shares in the company, valued at $23,670,660.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,443 shares of company stock worth $1,611,897. 0.90% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new position in shares of Aspen Technology in the 4th quarter valued at approximately $65,000. First Hawaiian Bank lifted its holdings in Aspen Technology by 478.4% in the 4th quarter. First Hawaiian Bank now owns 885 shares of the technology company’s stock valued at $73,000 after purchasing an additional 732 shares in the last quarter. NumerixS Investment Technologies Inc raised its holdings in shares of Aspen Technology by 75.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the technology company’s stock worth $113,000 after acquiring an additional 600 shares during the period. Gideon Capital Advisors Inc. purchased a new position in shares of Aspen Technology during the 3rd quarter worth $231,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Aspen Technology by 11.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,244 shares of the technology company’s stock worth $184,000 after acquiring an additional 229 shares during the period. 97.56% of the stock is owned by institutional investors and hedge funds.

About Aspen Technology

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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