Aspen Technology, Inc. (NASDAQ:AZPN) Raised to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Aspen Technology, Inc. (NASDAQ:AZPN) from a buy rating to a strong-buy rating in a research note released on Tuesday.
Several other equities analysts have also weighed in on AZPN. Benchmark Co. restated a hold rating and issued a $55.00 price objective (up from $48.00) on shares of Aspen Technology in a report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Aspen Technology from a hold rating to a buy rating and set a $65.00 price objective on the stock in a report on Friday, May 5th. Robert W. Baird initiated coverage on shares of Aspen Technology in a report on Wednesday, May 10th. They issued a neutral rating and a $63.00 price objective on the stock. Canaccord Genuity restated a hold rating and issued a $60.00 price objective on shares of Aspen Technology in a report on Friday, June 9th. Finally, Wedbush restated a neutral rating and issued a $59.00 price objective on shares of Aspen Technology in a report on Wednesday, June 28th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $60.29.
Aspen Technology (NASDAQ:AZPN) traded up 5.67% on Tuesday, hitting $59.86. The company’s stock had a trading volume of 1,515,453 shares. Aspen Technology has a 1-year low of $44.55 and a 1-year high of $64.34. The company has a 50 day moving average price of $56.56 and a 200-day moving average price of $57.81. The company has a market capitalization of $4.39 billion, a P/E ratio of 28.37 and a beta of 1.28.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.29. Aspen Technology had a net margin of 33.58% and a negative return on equity of 77.74%. The business had revenue of $123.68 million for the quarter, compared to analyst estimates of $119.55 million. During the same period in the prior year, the business posted $0.44 earnings per share. Aspen Technology’s revenue was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Aspen Technology will post $2.03 earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of the company. TrimTabs Asset Management LLC raised its stake in Aspen Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,262 shares of the technology company’s stock valued at $133,000 after buying an additional 1,064 shares during the period. Paradigm Asset Management Co. LLC purchased a new stake in Aspen Technology during the second quarter valued at $138,000. Pacad Investment Ltd. purchased a new stake in Aspen Technology during the second quarter valued at $166,000. Advisor Group Inc. raised its stake in Aspen Technology by 69.9% in the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock valued at $173,000 after buying an additional 1,296 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Aspen Technology by 12.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock valued at $183,000 after buying an additional 357 shares during the period.
Aspen Technology Company Profile
Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.
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