Aspen Technology, Inc. (NASDAQ:AZPN)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $68.37 and last traded at $67.92, with a volume of 397500 shares changing hands. The stock had previously closed at $67.29.

A number of research firms recently issued reports on AZPN. Zacks Investment Research cut Aspen Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. BidaskClub upgraded Aspen Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Bank of America Corporation began coverage on Aspen Technology in a report on Monday, November 6th. They set a “neutral” rating and a $67.00 price objective for the company. Canaccord Genuity restated a “hold” rating on shares of Aspen Technology in a report on Friday, August 11th. Finally, Berenberg Bank began coverage on Aspen Technology in a report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $63.00.

The company has a market capitalization of $4,880.00, a PE ratio of 31.30 and a beta of 1.22.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. The business had revenue of $122.80 million during the quarter, compared to analyst estimates of $121.73 million. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. Aspen Technology’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. analysts expect that Aspen Technology, Inc. will post 1.77 EPS for the current fiscal year.

In other news, VP F G. Hammond sold 3,388 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total value of $205,312.80. Following the completion of the transaction, the vice president now directly owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jr. Robert M. Whelan sold 10,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $66.01, for a total value of $660,100.00. Following the completion of the transaction, the director now directly owns 25,559 shares of the company’s stock, valued at $1,687,149.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,585 shares of company stock valued at $1,136,673. Corporate insiders own 0.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AZPN. Koch Industries Inc. raised its position in shares of Aspen Technology by 8,875.5% in the 2nd quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock worth $1,164,000 after acquiring an additional 1,171,746 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Aspen Technology by 15.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,984,783 shares of the technology company’s stock worth $250,285,000 after acquiring an additional 543,592 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Aspen Technology by 20.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock worth $130,441,000 after acquiring an additional 408,200 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Aspen Technology by 304.8% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 416,171 shares of the technology company’s stock worth $22,997,000 after acquiring an additional 313,372 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Aspen Technology by 22.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,609,712 shares of the technology company’s stock worth $98,450,000 after acquiring an additional 297,400 shares in the last quarter.

COPYRIGHT VIOLATION WARNING: This story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://www.thecerbatgem.com/2017/11/21/aspen-technology-inc-azpn-sets-new-1-year-high-at-68-37.html.

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.

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.