Pacific Crest Increases Aspen Technology Inc. (AZPN) Price Target to $58.00
Aspen Technology Inc. (NASDAQ:AZPN) had its target price increased by equities researchers at Pacific Crest from $55.00 to $58.00 in a note issued to investors on Tuesday. The firm presently has an “overweight” rating on the stock. Pacific Crest’s price objective points to a potential upside of 10.92% from the company’s previous close.
AZPN has been the subject of several other reports. Zacks Investment Research lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 12th. Avondale Partners lowered Aspen Technology from a “market perform” rating to an “underperform” rating and raised their price objective for the company from $39.00 to $42.00 in a research note on Friday, August 12th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Aspen Technology in a research note on Friday, October 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Aspen Technology has an average rating of “Hold” and a consensus price target of $45.00.
Shares of Aspen Technology (NASDAQ:AZPN) opened at 52.29 on Tuesday. The company has a 50-day moving average price of $48.61 and a 200 day moving average price of $43.73. Aspen Technology has a 52 week low of $29.25 and a 52 week high of $52.50. The stock has a market capitalization of $4.04 billion, a PE ratio of 31.14 and a beta of 1.00.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. The business earned $120.10 million during the quarter, compared to analyst estimates of $116.48 million. Aspen Technology had a negative return on equity of 181.66% and a net margin of 29.27%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the company earned $0.47 EPS. Equities analysts forecast that Aspen Technology will post $1.83 EPS for the current fiscal year.
In other Aspen Technology news, EVP William Griffin sold 1,902 shares of the firm’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 transaction, the executive vice president now directly owns 53,102 shares in the company, valued at approximately $2,500,573.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Antonio J. Pietri sold 4,500 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $45.03, for a total value of $202,635.00. Following the transaction, the chief executive officer now owns 152,750 shares in the company, valued at $6,878,332.50. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in Aspen Technology by 1.2% in the third quarter. M&T Bank Corp now owns 6,609 shares of the company’s stock valued at $310,000 after buying an additional 77 shares during the last quarter. Hsbc Holdings PLC increased its position in Aspen Technology by 2.6% in the third quarter. Hsbc Holdings PLC now owns 8,496 shares of the company’s stock valued at $398,000 after buying an additional 213 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Aspen Technology by 12.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,955 shares of the company’s stock valued at $138,000 after buying an additional 332 shares during the last quarter. Pacer Advisors Inc. increased its position in Aspen Technology by 9.3% in the third quarter. Pacer Advisors Inc. now owns 6,369 shares of the company’s stock valued at $298,000 after buying an additional 540 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Aspen Technology by 4.4% in the second quarter. ProShare Advisors LLC now owns 12,887 shares of the company’s stock valued at $519,000 after buying an additional 545 shares during 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.
Receive News & Stock Ratings for Aspen Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology Inc. and related stocks with our FREE daily email newsletter.