Aspen Technology (NASDAQ:AZPN) Shares Up 3.2%

Aspen Technology, Inc. (NASDAQ:AZPN) shot up 3.2% during trading on Friday . The stock traded as high as $155.50 and last traded at $155.50. 2,714 shares changed hands during trading, a decline of 99% from the average session volume of 287,296 shares. The stock had previously closed at $150.71.

Several research firms have commented on AZPN. Piper Sandler began coverage on shares of Aspen Technology in a report on Thursday, October 14th. They set a “neutral” rating and a $170.00 price target for the company. Zacks Investment Research downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating and set a $164.00 price objective for the company. in a research report on Tuesday, November 2nd. Bank of America upgraded shares of Aspen Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $150.00 to $176.00 in a research report on Tuesday, October 12th. KeyCorp reduced their price target on shares of Aspen Technology from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, October 28th. Finally, Robert W. Baird upped their price target on shares of Aspen Technology from $145.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, October 12th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $165.57.

The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 4.57 and a beta of 1.36. The stock’s 50 day moving average is $150.38 and its 200 day moving average is $143.55. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.39.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Tuesday, October 26th. The technology company reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.12. The firm had revenue of $136.00 million for the quarter, compared to analysts’ expectations of $125.23 million. Aspen Technology had a net margin of 44.70% and a return on equity of 47.03%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.58 EPS. On average, sell-side analysts anticipate that Aspen Technology, Inc. will post 4.49 EPS for the current year.

In related news, Director Donald P. Casey sold 10,673 shares of the stock in a transaction dated Thursday, November 18th. The shares were sold at an average price of $152.51, for a total value of $1,627,739.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of Aspen Technology by 123.2% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 221 shares of the technology company’s stock worth $30,000 after acquiring an additional 122 shares during the period. Fifth Third Bancorp lifted its holdings in shares of Aspen Technology by 27.3% during the 3rd quarter. Fifth Third Bancorp now owns 312 shares of the technology company’s stock worth $38,000 after acquiring an additional 67 shares during the period. Kings Point Capital Management purchased a new position in shares of Aspen Technology during the 3rd quarter worth about $38,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Aspen Technology by 3,610.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 371 shares of the technology company’s stock worth $45,000 after acquiring an additional 361 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Aspen Technology by 209.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 406 shares of the technology company’s stock worth $50,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 99.60% of the company’s stock.

Aspen Technology Company Profile (NASDAQ:AZPN)

Aspen Technology, Inc engages in the provision of asset optimization solutions. It develops its applications to design, and optimize processes across the engineering, manufacturing, supply chain, and asset performance management areas. The firm operates through the Subscription and Software, and Services and Other segments.

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