Aspen Technology, Inc. (NASDAQ:AZPN) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 819,100 shares, a drop of 14.1% from the July 31st total of 953,400 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 387,400 shares, the days-to-cover ratio is currently 2.1 days.

Several research analysts have recently commented on AZPN shares. KeyCorp lifted their target price on Aspen Technology from $124.00 to $141.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Wedbush reiterated an “outperform” rating and issued a $155.00 target price (up previously from $146.00) on shares of Aspen Technology in a research report on Monday, August 12th. Bank of America restated a “neutral” rating and set a $136.00 price objective (up previously from $130.00) on shares of Aspen Technology in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Aspen Technology from $131.00 to $123.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, BidaskClub lowered Aspen Technology from a “hold” rating to a “sell” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $134.57.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZPN. Alps Advisors Inc. bought a new position in Aspen Technology in the 1st quarter valued at $418,000. Carillon Tower Advisers Inc. bought a new position in shares of Aspen Technology in the 1st quarter worth $8,487,000. Bbva Compass Bancshares Inc. boosted its position 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 worth $594,000 after purchasing an additional 100 shares during the last quarter. First Allied Advisory Services Inc. bought a new position in shares of Aspen Technology in the 1st quarter worth $219,000. Finally, Keybank National Association OH bought a new position in shares of Aspen Technology in the 1st quarter worth $399,000. Institutional investors and hedge funds own 96.45% of the company’s stock.

Shares of NASDAQ AZPN traded down $2.03 during trading hours on Friday, hitting $122.81. 64,197 shares of the company’s stock were exchanged, compared to its average volume of 323,285. The company’s 50-day moving average price is $133.23 and its 200-day moving average price is $119.51. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 20.18 and a beta of 1.59. Aspen Technology has a 1-year low of $74.84 and a 1-year high of $142.15.

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

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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