Aspen Technology (NASDAQ:AZPN) had its target price decreased by JPMorgan Chase & Co. from $131.00 to $123.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has an “underweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 1.08% from the company’s current price.

A number of other analysts have also recently commented on the company. ValuEngine cut Aspen Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $155.00 price objective (up previously from $146.00) on shares of Aspen Technology in a research report on Monday, August 12th. KeyCorp upped their price target on Aspen Technology from $124.00 to $141.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $152.00 price target (up previously from $133.00) on shares of Aspen Technology in a research report on Monday, August 12th. Finally, Bank of America restated a “neutral” rating and issued a $136.00 price target (up previously from $130.00) on shares of Aspen Technology in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $134.57.

Aspen Technology stock traded down $3.16 during mid-day trading on Wednesday, reaching $121.69. 84,366 shares of the stock traded hands, compared to its average volume of 323,285. The stock has a market capitalization of $8.40 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 20.18 and a beta of 1.59. Aspen Technology has a 12-month low of $74.84 and a 12-month high of $142.15. The business’s 50-day moving average is $133.23 and its 200-day moving average is $119.51.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.50. The company had revenue of $195.77 million during the quarter, compared to analysts’ expectations of $162.71 million. Aspen Technology had a return on equity of 60.30% and a net margin of 43.91%. Aspen Technology’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. Equities research analysts expect that Aspen Technology will post 3.08 EPS for the current fiscal year.

In other Aspen Technology news, CFO Karl E. Johnsen sold 2,972 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $136.80, for a total value of $406,569.60. Following the completion of the sale, the chief financial officer now owns 22,150 shares in the company, valued at $3,030,120. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Summit Global Investments lifted its stake in shares of Aspen Technology by 0.3% in the 2nd quarter. Summit Global Investments now owns 27,030 shares of the technology company’s stock valued at $3,359,000 after purchasing an additional 89 shares during the last quarter. AGF Investments LLC lifted its stake in shares of Aspen Technology by 1.5% in the 2nd quarter. AGF Investments LLC now owns 6,427 shares of the technology company’s stock valued at $799,000 after purchasing an additional 96 shares during the last quarter. Bbva Compass Bancshares Inc. lifted its stake in shares of Aspen Technology by 1.8% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 5,701 shares of the technology company’s stock valued at $594,000 after purchasing an additional 100 shares during the last quarter. Zacks Investment Management lifted its stake in shares of Aspen Technology by 0.6% in the 2nd quarter. Zacks Investment Management now owns 23,563 shares of the technology company’s stock valued at $2,928,000 after purchasing an additional 149 shares during the last quarter. Finally, Capital Investment Advisory Services LLC bought a new stake in shares of Aspen Technology in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 96.45% 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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