Aspen Technologies, Inc. (NASDAQ: AZPN – Get Rating ) has received a consensus “Moderate Buy” recommendation from eight analysts covering the stock, according to Marketbeat Ratings. Three equity research analysts have rated the stock with a hold rating and three have rated the stock with a buy rating. The average one-year price target among brokerages who have issued ratings on the stock in the last year is $243.40.
Several brokerages have weighed in on AZPN. Wolfe Research began coverage on Aspen Technology in a report on Tuesday, August 16th. They set a “market perform” rating for the company. Piper Sandler upped their price target on shares of Aspen Technology from $189.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, September 19th. KeyCorp upped their price target on Aspen Technology from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, October 27th. StockNews.com began coverage on shares of Aspen Technology in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Robert W. Baird raised their price target on shares of Aspen Technology to $242.00 in a research note on Thursday, October 27th.
In other news, Vice President F G. Hammond sold 4,262 shares of company stock in a transaction dated Wednesday, September 7th. The stock sold at an average price of $211.57, with a total transaction value of $901,711.34. Following the transaction, the vice president now directly owns 20,606 shares of company stock, worth $4,359,611.42. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed at this link. Insiders own 1.00% of the company.
Aspen Technology’s Institutional Deals
Several large investors have recently revised their holdings in AZPN. Whittier Trust increased its position in Aspen Technology by 2.8% in the third quarter. The Whittier Trust now owns 2,060 shares of the tech company worth $491,000 after acquiring an additional 56 shares last quarter. Eagle Bay Advisors LLC increased its stake in Aspen Technology stock by 20.7% in the second quarter. Eagle Bay Advisors LLC now owns 332 shares of the tech company worth $61,000 after buying an additional 57 shares last quarter. Heritage Wealth Management LLC increased its stake in Aspen Technology stock by 4.1% in the third quarter. Heritage Wealth Management LLC now owns 1,449 shares of the tech company worth $345,000 after buying an additional 57 shares last quarter. MUFG Americas Holdings Corp increased its stake in Aspen Technology by 17.4% in the first quarter. MUFG Americas Holdings Corp now owns 431 shares of the tech company worth $71,000 after buying an additional 64 shares last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Aspen Technology stock by 3.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,978 shares of the tech company worth $470,000 after buying an additional 64 shares last quarter. 93.73% of the shares are held by institutional investors.
Aspen Technology stock performance
AZPN stock opened Tuesday at $231.00. The company has a market cap of $14.91 billion, a P/E ratio of 77.00, a P/E ratio of 2.20, and a beta of 1.01. The company has a quick ratio of 4.07, a current ratio of 3.24, and a debt-to-equity ratio of 0.02. The company’s 50-day moving average is $239.09 and its 200-day moving average is $211.16. Aspen Technology had a 12-month low of $135.48 and a 12-month high of $263.59.
Aspen Technology (NASDAQ: AZPN – Get Rating ) last reported earnings on Wednesday, October 26th. The technology company reported earnings per share (EPS) of $2.20 for the quarter, beating the consensus estimate of $1.25 by $0.95. The company’s revenue for the quarter was $250.82 million, compared with analyst estimates of $236.76 million. Aspen Technology has a return on equity of 5.75% and a net profit margin of 21.55%. Aspen Technology’s quarterly revenue rose 84.4% year-over-year. In the same period last year, the company reported EPS of $0.65. Taken as a whole, sell-side analysts expect Aspen Technology to report EPS of 5.99 for the year.
Aspen Technology Company Profile
Aspen Technology and its subsidiaries develop and deliver integrated software and services that enable process industries to design, operate, manage and optimize their business processes. Its software applications leverage proprietary empirical models of chemical manufacturing processes to enhance plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization and operational performance.
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