BidaskClub Upgrades Aspen Technology (NASDAQ:AZPN) to Hold

BidaskClub upgraded shares of Aspen Technology (NASDAQ:AZPN) from a sell rating to a hold rating in a research note published on Wednesday, BidAskClub reports.

A number of other research firms also recently weighed in on AZPN. ValuEngine upgraded shares of Aspen Technology from a sell rating to a hold rating in a research note on Tuesday, December 3rd. Wedbush lifted their price target on shares of Aspen Technology from $145.00 to $154.00 and gave the stock a positive rating in a research note on Tuesday. Finally, KeyCorp lifted their price target on shares of Aspen Technology from $141.00 to $145.00 and gave the stock an overweight rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $135.00.

AZPN traded up $0.41 during trading on Wednesday, reaching $140.61. 7,209 shares of the company’s stock were exchanged, compared to its average volume of 347,537. Aspen Technology has a fifty-two week low of $88.41 and a fifty-two week high of $142.32. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $124.66 and a 200 day moving average price of $125.80. The company has a market capitalization of $9.55 billion, a P/E ratio of 37.28 and a beta of 1.52.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.30. Aspen Technology had a net margin of 43.83% and a return on equity of 67.12%. The firm had revenue of $134.09 million for the quarter, compared to the consensus estimate of $119.49 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. As a group, research analysts forecast that Aspen Technology will post 3.32 EPS for the current year.

In other news, CFO Karl E. Johnsen sold 2,310 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $116.82, for a total value of $269,854.20. Following the sale, the chief financial officer now owns 28,667 shares in the company, valued at approximately $3,348,878.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of AZPN. Allred Capital Management LLC acquired a new stake in shares of Aspen Technology in the 4th quarter valued at $33,000. Squar Milner Financial Services LLC boosted its stake in shares of Aspen Technology by 952.9% in the 3rd quarter. Squar Milner Financial Services LLC now owns 358 shares of the technology company’s stock valued at $44,000 after purchasing an additional 324 shares in the last quarter. Atwater Malick LLC acquired a new stake in shares of Aspen Technology in the 3rd quarter valued at $97,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Aspen Technology in the 3rd quarter valued at $123,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of Aspen Technology by 175.0% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,122 shares of the technology company’s stock valued at $139,000 after purchasing an additional 714 shares in the last quarter. Institutional investors own 97.09% of the company’s stock.

About Aspen Technology

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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