Aspen Technology’s (AZPN) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Aspen Technology (NASDAQ:AZPN) in a research note published on Wednesday, RTT News reports. Wedbush currently has a $131.00 target price on the technology company’s stock.

AZPN has been the topic of several other reports. Zacks Investment Research cut Aspen Technology from a buy rating to a hold rating in a research note on Wednesday, January 23rd. Benchmark raised their price objective on Aspen Technology from $95.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, January 24th. Bank of America upgraded Aspen Technology from an underperform rating to a neutral rating and raised their price objective for the stock from $88.00 to $116.00 in a research note on Tuesday, April 23rd. BidaskClub upgraded Aspen Technology from a hold rating to a buy rating in a research note on Friday, January 25th. Finally, Canaccord Genuity raised their price objective on Aspen Technology from $100.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, January 24th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Aspen Technology currently has a consensus rating of Buy and an average target price of $117.25.

Shares of AZPN opened at $116.05 on Wednesday. Aspen Technology has a 12-month low of $74.84 and a 12-month high of $124.96. The firm has a market cap of $8.00 billion, a P/E ratio of 41.59 and a beta of 1.61.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.10. Aspen Technology had a return on equity of 76.36% and a net margin of 37.25%. The firm had revenue of $148.00 million for the quarter, compared to analysts’ expectations of $136.38 million. During the same period last year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, analysts predict that Aspen Technology will post 3.26 EPS for the current fiscal year.

In other Aspen Technology news, CEO Antonio J. Pietri sold 44,754 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $119.30, for a total value of $5,339,152.20. Following the sale, the chief executive officer now directly owns 227,577 shares of the company’s stock, valued at $27,149,936.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Antonio J. Pietri sold 7,095 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $99.49, for a total value of $705,881.55. Following the completion of the sale, the chief executive officer now directly owns 237,920 shares in the company, valued at $23,670,660.80. The disclosure for this sale can be found here. Insiders sold 78,692 shares of company stock worth $9,286,123 over the last ninety days. 0.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AZPN. Premia Global Advisors LLC acquired a new stake in Aspen Technology in the first quarter worth $32,000. Ellis Investment Partners LLC acquired a new stake in Aspen Technology in the first quarter worth $33,000. Riverview Trust Co acquired a new stake in Aspen Technology in the fourth quarter worth $65,000. First Hawaiian Bank increased its position in Aspen Technology by 478.4% in the fourth quarter. First Hawaiian Bank now owns 885 shares of the technology company’s stock worth $73,000 after buying an additional 732 shares during the period. Finally, Anderson Fisher LLC acquired a new stake in Aspen Technology in the first quarter worth $105,000. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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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