Aspen Technology (NASDAQ:AZPN) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a research note on Monday, January 8th. KeyCorp restated a “buy” rating and set a $83.00 target price (up from $73.00) on shares of Aspen Technology in a research note on Monday, January 8th. JPMorgan Chase & Co. upped their target price on shares of Aspen Technology to $65.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 3rd. Bank of America began coverage on shares of Aspen Technology in a research note on Monday, November 6th. They set a “neutral” rating and a $67.00 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $66.60.

Aspen Technology (NASDAQ:AZPN) traded down $0.09 during mid-day trading on Tuesday, hitting $75.03. 584,414 shares of the company were exchanged, compared to its average volume of 425,170. Aspen Technology has a 12-month low of $52.23 and a 12-month high of $76.56. The stock has a market capitalization of $5,448.86, a price-to-earnings ratio of 34.90 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $122.80 million for the quarter, compared to analyst estimates of $121.73 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. equities analysts predict that Aspen Technology will post 1.83 earnings per share for the current year.

In related news, Director Jr. Robert M. Whelan sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl E. Johnsen sold 2,619 shares of the company’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 directly owns 40,063 shares of the company’s stock, valued at $2,580,457.83. The disclosure for this sale can be found here. Insiders sold 14,197 shares of company stock valued at $931,360 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Koch Industries Inc. boosted its holdings in Aspen Technology by 8,875.5% in the second quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock valued at $1,164,000 after purchasing an additional 1,171,746 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Aspen Technology by 68.5% in the second quarter. Cubist Systematic Strategies LLC now owns 28,518 shares of the technology company’s stock valued at $1,576,000 after acquiring an additional 11,593 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Aspen Technology by 20.9% in the second quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock valued at $130,441,000 after acquiring an additional 408,200 shares during the period. Clinton Group Inc. acquired a new stake in shares of Aspen Technology in the second quarter valued at approximately $1,135,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Aspen Technology by 95.6% in the second quarter. Schroder Investment Management Group now owns 33,484 shares of the technology company’s stock valued at $1,822,000 after acquiring an additional 16,365 shares during the period.

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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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