Bank of America Corporation Begins Coverage on Aspen Technology, Inc. (AZPN)
Bank of America Corporation started coverage on shares of Aspen Technology, Inc. (NASDAQ:AZPN) in a research report released on Monday, Marketbeat Ratings reports. The firm issued a neutral rating and a $67.00 price target on the technology company’s stock.
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Aspen Technology from a buy rating to a hold rating in a research note on Tuesday, August 29th. Robert W. Baird set a $63.00 price objective on shares of Aspen Technology and gave the stock a hold rating in a research note on Friday, October 6th. BidaskClub downgraded shares of Aspen Technology from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Berenberg Bank assumed coverage on shares of Aspen Technology in a research note on Wednesday, August 23rd. They issued a buy rating and a $70.00 target price on the stock. Finally, Canaccord Genuity upped their target price on shares of Aspen Technology from $62.00 to $63.00 and gave the stock a hold rating in a research note on Friday, October 27th. Six research analysts have rated the stock with a hold rating, three have given 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 $63.00.
Shares of Aspen Technology (NASDAQ:AZPN) traded up $0.31 during trading on Monday, reaching $65.99. 115,600 shares of the company were exchanged, compared to its average volume of 508,129. Aspen Technology has a 12 month low of $48.08 and a 12 month high of $68.32. The company has a market capitalization of $4,774.28, a P/E ratio of 30.61 and a beta of 1.23.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.48 by $0.05. Aspen Technology had a net margin of 33.35% and a negative return on equity of 66.74%. The business had revenue of $122.80 million for the quarter, compared to analyst estimates of $121.73 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Aspen Technology’s quarterly revenue was up 2.2% on a year-over-year basis. analysts predict that Aspen Technology will post 1.77 EPS for the current year.
In related news, VP F G. Hammond sold 3,388 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $60.60, for a total transaction of $205,312.80. Following the transaction, the vice president now owns 20,733 shares in the company, valued at $1,256,419.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Karl E. Johnsen sold 1,969 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $59.14, for a total transaction of $116,446.66. Following the transaction, the insider now owns 28,530 shares in the company, valued at approximately $1,687,264.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,554 shares of company stock worth $1,253,119. Insiders own 0.60% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. First Manhattan Co. bought a new position in Aspen Technology during the third quarter valued at approximately $125,000. Paradigm Asset Management Co. LLC bought a new position in Aspen Technology during the second quarter valued at approximately $138,000. Pacad Investment Ltd. bought a new position in Aspen Technology during the second quarter valued at approximately $166,000. Advisor Group Inc. lifted its position in Aspen Technology by 69.9% during the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock valued at $173,000 after purchasing an additional 1,296 shares during the period. Finally, Parametrica Management Ltd bought a new position in Aspen Technology during the third quarter valued at approximately $203,000.
Aspen Technology Company Profile
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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