Wedbush Reaffirms Outperform Rating for Aspen Technology (NASDAQ:AZPN)

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Wedbush reaffirmed their outperform rating on shares of Aspen Technology (NASDAQ:AZPN) in a research report report published on Monday, The Fly reports. Wedbush currently has a $155.00 price target on the technology company’s stock, up from their previous price target of $146.00.

A number of other research firms have also recently commented on AZPN. KeyCorp raised their target price on Aspen Technology from $124.00 to $141.00 and gave the company an overweight rating in a research report on Thursday, August 8th. BidaskClub cut Aspen Technology from a buy rating to a hold rating in a research report on Thursday, August 1st. Benchmark restated a buy rating and set a $133.00 target price (up from $113.00) on shares of Aspen Technology in a research report on Wednesday, May 8th. JPMorgan Chase & Co. raised their target price 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, Bank of America restated a neutral rating and set a $136.00 target price (up from $130.00) on shares of Aspen Technology in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Aspen Technology currently has a consensus rating of Buy and an average target price of $129.88.

Shares of AZPN stock opened at $131.71 on Monday. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 22.53 and a beta of 1.54. The stock has a fifty day moving average price of $131.54. Aspen Technology has a 1 year low of $74.84 and a 1 year high of $142.15.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Wednesday, August 7th. The technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.50. The company had revenue of $195.77 million during the quarter, compared to analyst estimates of $162.71 million. Aspen Technology had a return on equity of 60.30% and a net margin of 43.91%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. Equities research analysts forecast that Aspen Technology will post 3.09 EPS for the current year.

In related news, CFO Karl E. Johnsen sold 2,972 shares of Aspen Technology 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 sale, the chief financial officer now directly owns 22,150 shares in the company, valued at approximately $3,030,120. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC acquired a new stake in Aspen Technology in the 2nd quarter worth about $29,000. Kavar Capital Partners LLC acquired a new position in shares of Aspen Technology during the 2nd quarter worth approximately $54,000. Daiwa Securities Group Inc. acquired a new position in shares of Aspen Technology during the 2nd quarter worth approximately $68,000. Parkside Financial Bank & Trust acquired a new position in shares of Aspen Technology during the 2nd quarter worth approximately $74,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of Aspen Technology in the second quarter valued at approximately $109,000. 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.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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