Benchmark Reaffirms “Buy” Rating for Aspen Technology (NASDAQ:AZPN)

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

A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut Aspen Technology from a buy rating to a hold rating in a research report on Monday, May 6th. BidaskClub cut Aspen Technology from a buy rating to a hold rating in a research report on Thursday, August 1st. Canaccord Genuity boosted their price objective on Aspen Technology from $110.00 to $126.00 and gave the company a buy rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on Aspen Technology from $114.00 to $131.00 and gave the company an underweight rating in a research report on Thursday, August 8th. Finally, KeyCorp boosted their price objective on Aspen Technology from $124.00 to $141.00 and gave the company an overweight rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $129.88.

AZPN opened at $131.71 on Monday. The stock has a 50 day moving average of $131.54. Aspen Technology has a twelve month low of $74.84 and a twelve month high of $142.15. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 34.94, a P/E/G ratio of 22.53 and a beta of 1.54.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.50. The company had revenue of $195.77 million for the quarter, compared to the consensus estimate of $162.71 million. Aspen Technology had a return on equity of 60.30% and a net margin of 43.91%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 EPS. As a group, sell-side analysts predict that Aspen Technology will post 3.09 earnings per share for the current fiscal year.

In other Aspen Technology news, CFO Karl E. Johnsen sold 2,972 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $136.80, for a total value of $406,569.60. Following the sale, the chief financial officer now directly owns 22,150 shares in the company, valued at $3,030,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Large investors have recently made changes to their positions in the business. Capital Investment Advisory Services LLC bought a new stake in Aspen Technology in the second quarter valued at $29,000. Kavar Capital Partners LLC bought a new stake in Aspen Technology in the second quarter valued at $54,000. Daiwa Securities Group Inc. acquired a new position in Aspen Technology in the second quarter worth $68,000. Parkside Financial Bank & Trust acquired a new position in Aspen Technology in the second quarter worth $74,000. Finally, Machina Capital S.A.S. acquired a new position in Aspen Technology in the second quarter worth $109,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

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.

See Also: Fundamental Analysis

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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