BidaskClub lowered shares of Aspen Technology, Inc. (NASDAQ:AZPN) from a strong-buy rating to a buy rating in a research note released on Tuesday, July 25th.
Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Aspen Technology from a hold rating to a sell rating in a report on Tuesday, July 4th. Wedbush restated a neutral rating and issued a $59.00 target price on shares of Aspen Technology in a report on Wednesday, June 28th. Canaccord Genuity restated a hold rating and issued a $60.00 target price on shares of Aspen Technology in a report on Friday, June 9th. Robert W. Baird reaffirmed an outperform rating and issued a $65.00 price target on shares of Aspen Technology in a research report on Thursday, May 11th. Finally, Benchmark Co. reaffirmed a hold rating and issued a $55.00 price target (up from $48.00) on shares of Aspen Technology in a research report on Wednesday, May 3rd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $60.29.
Shares of Aspen Technology (NASDAQ AZPN) traded up 5.67% on Tuesday, hitting $59.86. 1,515,453 shares of the company were exchanged. The firm has a market cap of $4.39 billion, a P/E ratio of 28.37 and a beta of 1.28. The company has a 50-day moving average price of $56.56 and a 200 day moving average price of $57.81. Aspen Technology has a 52-week low of $41.30 and a 52-week high of $64.34.
Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.29. Aspen Technology had a negative return on equity of 77.74% and a net margin of 33.58%. The firm had revenue of $123.68 million during the quarter, compared to analyst estimates of $119.55 million. During the same period in the previous year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts predict that Aspen Technology will post $2.03 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. ClariVest Asset Management LLC bought a new stake in shares of Aspen Technology during the first quarter valued at approximately $1,540,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Aspen Technology during the first quarter valued at approximately $314,000. Federated Investors Inc. PA bought a new stake in shares of Aspen Technology during the fourth quarter valued at approximately $203,000. Credit Suisse AG raised its stake in shares of Aspen Technology by 37.2% in the first quarter. Credit Suisse AG now owns 109,284 shares of the technology company’s stock valued at $6,439,000 after buying an additional 29,605 shares in the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in shares of Aspen Technology by 3.6% in the first quarter. Stephens Investment Management Group LLC now owns 905,240 shares of the technology company’s stock valued at $53,337,000 after buying an additional 31,672 shares in the last quarter.
About Aspen Technology
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.
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