Aspen Technology (NASDAQ:AZPN) Rating Increased to Outperform at Robert W. Baird

Aspen Technology (NASDAQ:AZPN) was upgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Monday, April 9th, Marketbeat Ratings reports. The firm presently has a $90.00 price target on the technology company’s stock, up from their prior price target of $63.00. Robert W. Baird’s target price would indicate a potential upside of 3.56% from the company’s current price.

A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Aspen Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. BidaskClub upgraded Aspen Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 27th. ValuEngine upgraded Aspen Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Bank of America downgraded Aspen Technology from a “neutral” rating to an “underperform” rating in a report on Thursday, January 25th. They noted that the move was a valuation call. Finally, Canaccord Genuity upped their price objective on Aspen Technology from $65.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Aspen Technology has a consensus rating of “Hold” and a consensus price target of $75.67.

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Shares of Aspen Technology stock opened at $86.91 on Monday. Aspen Technology has a fifty-two week low of $53.51 and a fifty-two week high of $88.33. The firm has a market cap of $6,324.87, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 4.25 and a beta of 1.21.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. Aspen Technology had a negative return on equity of 61.97% and a net margin of 33.23%. The company had revenue of $124.90 million for the quarter, compared to analyst estimates of $121.81 million. During the same quarter in the prior year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. sell-side analysts expect that Aspen Technology will post 1.97 earnings per share for the current year.

In related news, CEO Antonio J. Pietri sold 26,900 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $76.56, for a total value of $2,059,464.00. Following the completion of the sale, the chief executive officer now directly owns 250,416 shares in the company, valued at approximately $19,171,848.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP F G. Hammond sold 6,292 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $73.47, for a total value of $462,273.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,308 shares of company stock valued at $3,929,379. Insiders own 0.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB acquired a new stake in Aspen Technology in the 4th quarter valued at $417,000. Envestnet Asset Management Inc. increased its holdings in Aspen Technology by 4.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 24,734 shares of the technology company’s stock valued at $1,637,000 after purchasing an additional 962 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in Aspen Technology in the 4th quarter valued at $2,190,000. Zeke Capital Advisors LLC acquired a new stake in Aspen Technology in the 4th quarter valued at $204,000. Finally, Crestline Management LP acquired a new stake in Aspen Technology in the 4th quarter valued at $1,232,000.

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About Aspen Technology

Aspen Technology, Inc, together with its subsidiaries, provides software and services in the United States, Europe, and internationally. It operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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