BidaskClub lowered shares of Aspen Technology (NASDAQ:AZPN) from a buy rating to a hold rating in a research note released on Tuesday morning.

AZPN has been the subject of a number of other reports. Zacks Investment Research cut shares of Aspen Technology from a buy rating to a hold rating in a research report on Wednesday, November 1st. Bank of America assumed coverage on shares of Aspen Technology in a research report on Monday, November 6th. They set a neutral rating and a $67.00 price target for the company. Berenberg Bank assumed coverage on shares of Aspen Technology in a research report on Wednesday, August 23rd. They set a buy rating and a $70.00 price target for the company. Robert W. Baird set a $63.00 price target on shares of Aspen Technology and gave the company a hold rating in a research report on Friday, October 6th. Finally, Canaccord Genuity raised their price objective on shares of Aspen Technology from $62.00 to $63.00 and gave the company a hold rating in a research note on Friday, October 27th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Aspen Technology presently has an average rating of Hold and a consensus price target of $63.63.

Shares of Aspen Technology (NASDAQ:AZPN) traded down $0.49 on Tuesday, hitting $66.26. 377,100 shares of the company’s stock were exchanged, compared to its average volume of 495,454. Aspen Technology has a 1-year low of $52.23 and a 1-year high of $69.38. The firm has a market capitalization of $4,841.74, a PE ratio of 31.05 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $121.73 million. During the same period last year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. sell-side analysts anticipate that Aspen Technology will post 1.77 earnings per share for the current year.

In other news, insider Karl E. Johnsen sold 2,619 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $64.41, for a total value of $168,689.79. Following the completion of the transaction, the insider now owns 40,063 shares of the company’s stock, valued at $2,580,457.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP F G. Hammond sold 1,578 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $65.00, for a total transaction of $102,570.00. Following the completion of the transaction, the vice president now directly owns 26,108 shares of the company’s stock, valued at approximately $1,697,020. The disclosure for this sale can be found here. In the last three months, insiders sold 14,197 shares of company stock valued at $931,360. Insiders own 0.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Manhattan Co. purchased a new position in shares of Aspen Technology in the third quarter valued at approximately $125,000. Paradigm Asset Management Co. LLC purchased a new position in Aspen Technology in the second quarter worth approximately $138,000. Pacad Investment Ltd. purchased a new position in Aspen Technology in the second quarter worth approximately $166,000. Advisor Group Inc. lifted its stake in Aspen Technology by 69.9% in the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock worth $173,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Aspen Technology by 12.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock worth $183,000 after acquiring an additional 357 shares during the last quarter.

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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.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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