Aspen Technology’s (AZPN) “Neutral” Rating Reaffirmed at Wedbush

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Aspen Technology (NASDAQ:AZPN)‘s stock had its “neutral” rating reiterated by analysts at Wedbush in a report issued on Monday. They currently have a $104.00 price target on the technology company’s stock. Wedbush’s target price would suggest a potential upside of 1.74% from the company’s previous close.

AZPN has been the subject of a number of other reports. Zacks Investment Research downgraded Aspen Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Benchmark upped their target price on Aspen Technology from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. BidaskClub upgraded Aspen Technology from a “sell” rating to a “hold” rating in a research report on Thursday, December 13th. Finally, Canaccord Genuity upped their target price on Aspen Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $106.86.

AZPN stock opened at $102.22 on Monday. Aspen Technology has a 1-year low of $74.84 and a 1-year high of $118.86. The company has a market cap of $7.06 billion, a P/E ratio of 49.62 and a beta of 1.56.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Wednesday, January 23rd. The technology company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.29. The firm had revenue of $140.42 million for the quarter, compared to analyst estimates of $122.04 million. Aspen Technology had a return on equity of 204.42% and a net margin of 34.19%. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.88 EPS. Analysts anticipate that Aspen Technology will post 3.24 earnings per share for the current fiscal year.

In related news, insider Karl E. Johnsen sold 2,388 shares of the company’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $96.50, for a total transaction of $230,442.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jr. Robert M. Whelan sold 1,250 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $96.86, for a total value of $121,075.00. Following the sale, the director now owns 10,232 shares of the company’s stock, valued at $991,071.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,443 shares of company stock valued at $1,611,897. 0.90% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. NorthCoast Asset Management LLC lifted its position in shares of Aspen Technology by 0.7% during the 3rd quarter. NorthCoast Asset Management LLC now owns 28,762 shares of the technology company’s stock worth $3,276,000 after buying an additional 196 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Aspen Technology by 8.5% in the 4th quarter. Squarepoint Ops LLC now owns 2,900 shares of the technology company’s stock worth $238,000 after purchasing an additional 227 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Aspen Technology by 11.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,244 shares of the technology company’s stock worth $184,000 after purchasing an additional 229 shares in the last quarter. Synovus Financial Corp increased its holdings in Aspen Technology by 2.7% in the 4th quarter. Synovus Financial Corp now owns 10,000 shares of the technology company’s stock worth $819,000 after purchasing an additional 266 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in Aspen Technology by 4.4% in the 4th quarter. Stephens Inc. AR now owns 7,524 shares of the technology company’s stock worth $618,000 after purchasing an additional 319 shares in the last quarter. Institutional investors and hedge funds own 97.56% of the company’s stock.

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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