Aspen Technology (AZPN) Upgraded by TheStreet to “B”

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TheStreet upgraded shares of Aspen Technology (NASDAQ:AZPN) from a d- rating to a b rating in a report released on Friday.

AZPN has been the topic of several other reports. Robert W. Baird raised their price objective on Aspen Technology from $90.00 to $114.00 and gave the company an outperform rating in a research note on Thursday, August 9th. Zacks Investment Research lowered Aspen Technology from a buy rating to a hold rating in a research note on Wednesday, October 10th. Wedbush raised their price objective on Aspen Technology from $80.00 to $106.00 and gave the company a neutral rating in a research note on Friday, August 10th. BidaskClub downgraded Aspen Technology from a strong-buy rating to a buy rating in a research report on Thursday, September 20th. Finally, ValuEngine downgraded Aspen Technology from a strong-buy rating to a buy rating in a research report on Monday, July 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Aspen Technology currently has an average rating of Hold and an average price target of $97.63.

NASDAQ:AZPN opened at $82.82 on Friday. The stock has a market capitalization of $6.28 billion, a P/E ratio of 40.20, a price-to-earnings-growth ratio of 1.89 and a beta of 1.27. Aspen Technology has a twelve month low of $63.57 and a twelve month high of $118.86.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Wednesday, October 24th. The technology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.12. The business had revenue of $114.17 million for the quarter, compared to analyst estimates of $113.49 million. Aspen Technology had a negative return on equity of 168.12% and a net margin of 30.96%. Equities analysts predict that Aspen Technology will post 2.85 EPS for the current fiscal year.

In other news, CEO Antonio J. Pietri sold 9,193 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $109.44, for a total transaction of $1,006,081.92. Following the completion of the transaction, the chief executive officer now directly owns 228,730 shares in the company, valued at $25,032,211.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary E. Haroian sold 10,058 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $107.30, for a total value of $1,079,223.40. The disclosure for this sale can be found here. Insiders sold 33,250 shares of company stock valued at $3,595,936 over the last quarter. Corporate insiders own 0.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Aspen Technology by 266.7% during the second quarter. Macquarie Group Ltd. now owns 1,100 shares of the technology company’s stock worth $102,000 after acquiring an additional 800 shares during the last quarter. Fort L.P. bought a new position in shares of Aspen Technology during the second quarter worth about $118,000. Hexavest Inc. bought a new position in shares of Aspen Technology during the third quarter worth about $168,000. Cerebellum GP LLC bought a new position in shares of Aspen Technology during the third quarter worth about $179,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Aspen Technology by 411.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,753 shares of the technology company’s stock worth $163,000 after purchasing an additional 1,410 shares in the last quarter. Institutional investors own 97.93% of the company’s stock.

Aspen Technology Company Profile

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company 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.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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