Aspen Technology (AZPN) Lifted to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of Aspen Technology (NASDAQ:AZPN) from a neutral rating to an outperform rating in a research report released on Monday, Marketbeat reports. Robert W. Baird currently has $90.00 price objective on the technology company’s stock, up from their prior price objective of $63.00.

A number of other research firms have also weighed in on AZPN. BidaskClub upgraded shares of Aspen Technology from a buy rating to a strong-buy rating in a research note on Saturday, March 10th. Zacks Investment Research lowered shares of Aspen Technology from a buy rating to a hold rating in a research note on Tuesday, March 27th. ValuEngine upgraded shares of Aspen Technology from a hold rating to a buy rating in a research note on Thursday, March 1st. Bank of America lowered shares of Aspen Technology from a neutral rating to an underperform rating in a research note on Thursday, January 25th. They noted that the move was a valuation call. Finally, KeyCorp raised their price objective on shares of Aspen Technology from $83.00 to $88.00 and gave the company an overweight rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Aspen Technology presently has an average rating of Hold and a consensus target price of $75.67.

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NASDAQ:AZPN opened at $83.61 on Monday. The stock has a market cap of $5,937.84, a price-to-earnings ratio of 39.13, a PEG ratio of 3.99 and a beta of 1.21. Aspen Technology has a fifty-two week low of $53.51 and a fifty-two week high of $84.40.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. The business had revenue of $124.90 million during the quarter, compared to analyst estimates of $121.81 million. Aspen Technology had a net margin of 33.23% and a negative return on equity of 61.97%. Aspen Technology’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. equities research analysts predict that Aspen Technology will post 1.97 earnings per share for the current year.

In other news, CEO Antonio J. Pietri sold 26,900 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $76.56, for a total transaction of $2,059,464.00. Following the sale, the chief executive officer now owns 250,416 shares of the company’s stock, valued at approximately $19,171,848.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Karl E. Johnsen sold 2,304 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $75.00, for a total transaction of $172,800.00. Following the completion of the transaction, the insider now directly owns 36,180 shares in the company, valued at approximately $2,713,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,308 shares of company stock worth $3,929,379. Insiders own 0.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of AZPN. Renaissance Technologies LLC boosted its holdings in shares of Aspen Technology by 16.1% in the fourth quarter. Renaissance Technologies LLC now owns 3,482,100 shares of the technology company’s stock worth $230,515,000 after buying an additional 482,800 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of Aspen Technology by 262.4% in the fourth quarter. APG Asset Management N.V. now owns 467,100 shares of the technology company’s stock worth $25,751,000 after buying an additional 338,200 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its holdings in shares of Aspen Technology by 51.3% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 753,868 shares of the technology company’s stock worth $49,906,000 after buying an additional 255,635 shares during the last quarter. Oribel Capital Management LP boosted its holdings in shares of Aspen Technology by 87.1% in the fourth quarter. Oribel Capital Management LP now owns 203,700 shares of the technology company’s stock worth $13,485,000 after buying an additional 94,800 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Aspen Technology by 119.1% in the fourth quarter. American Century Companies Inc. now owns 148,145 shares of the technology company’s stock worth $9,807,000 after buying an additional 80,535 shares during the last quarter.

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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.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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