Zacks Investment Research lowered shares of Aspen Technology Inc. (NASDAQ:AZPN) from a strong-buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Aspen Technology Inc. is a recognized expert and leading provider of award-winning process optimization software and services. AspenTech’s integrated aspenONE solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to-end throughout the engineering, plant operations, and supply chain management processes, resulting in millions of dollars in cost savings. “

Separately, Avondale Partners downgraded Aspen Technology from a market perform rating to an underperform rating and raised their price target for the company from $39.00 to $42.00 in a research report on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Aspen Technology currently has an average rating of Hold and an average target price of $40.71.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

Shares of Aspen Technology (NASDAQ:AZPN) traded down 1.09% during trading on Wednesday, hitting $45.57. The stock had a trading volume of 30,385 shares. The firm’s 50 day moving average is $46.11 and its 200 day moving average is $41.07. The company has a market cap of $3.63 billion, a PE ratio of 27.12 and a beta of 1.06. Aspen Technology has a 1-year low of $29.25 and a 1-year high of $48.08.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Thursday, August 11th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.05. Aspen Technology had a negative return on equity of 297.67% and a net margin of 29.63%. The company had revenue of $113.70 million for the quarter, compared to the consensus estimate of $112.88 million. During the same quarter last year, the business posted $0.39 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Equities research analysts anticipate that Aspen Technology will post $1.80 EPS for the current fiscal year.

In other Aspen Technology news, CEO Antonio J. Pietri sold 4,500 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $45.03, for a total value of $202,635.00. Following the sale, the chief executive officer now owns 152,750 shares in the company, valued at approximately $6,878,332.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William Griffin sold 1,902 shares of the business’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $47.09, for a total transaction of $89,565.18. Following the completion of the sale, the executive vice president now owns 53,102 shares in the company, valued at approximately $2,500,573.18. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in Aspen Technology by 183.0% in the first quarter. Goldman Sachs Group Inc. now owns 849,905 shares of the company’s stock worth $30,707,000 after buying an additional 549,594 shares during the period. Seven Eight Capital LLC purchased a new stake in Aspen Technology during the first quarter worth $137,000. Aristotle Capital Boston LLC raised its stake in Aspen Technology by 3.3% in the second quarter. Aristotle Capital Boston LLC now owns 171,476 shares of the company’s stock worth $6,900,000 after buying an additional 5,402 shares during the period. BlackRock Inc. raised its stake in Aspen Technology by 235.7% in the first quarter. BlackRock Inc. now owns 14,211 shares of the company’s stock worth $513,000 after buying an additional 9,978 shares during the period. Finally, Geode Capital Management LLC raised its stake in Aspen Technology by 4.2% in the first quarter. Geode Capital Management LLC now owns 805,837 shares of the company’s stock worth $29,114,000 after buying an additional 32,733 shares during the period.

About Aspen Technology

Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.

5 Day Chart for NASDAQ:AZPN

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