BidaskClub upgraded shares of Aspen Technology, Inc. (NASDAQ:AZPN) from a buy rating to a strong-buy rating in a report published on Tuesday morning.
AZPN has been the topic of several other research reports. Zacks Investment Research raised Aspen Technology from a hold rating to a buy rating and set a $65.00 target price on the stock in a report on Friday, May 5th. Wedbush reissued a neutral rating and set a $59.00 target price on shares of Aspen Technology in a report on Wednesday, June 28th. Canaccord Genuity reissued a hold rating and set a $60.00 target price on shares of Aspen Technology in a report on Friday, June 9th. Robert W. Baird began coverage on Aspen Technology in a report on Wednesday, May 10th. They set a neutral rating and a $63.00 target price on the stock. Finally, Benchmark Co. reissued a hold rating and set a $55.00 target price (up previously from $48.00) on shares of Aspen Technology in a report on Wednesday, May 3rd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $60.29.
Aspen Technology (NASDAQ:AZPN) traded up 5.67% during midday trading on Tuesday, hitting $59.86. The company had a trading volume of 1,515,453 shares. The company’s 50 day moving average is $56.56 and its 200 day moving average is $57.81. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 28.37 and a beta of 1.28. Aspen Technology has a 12-month low of $44.55 and a 12-month high of $64.34.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Thursday, August 10th. The technology company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.29. Aspen Technology had a negative return on equity of 77.74% and a net margin of 33.58%. The firm had revenue of $123.68 million for the quarter, compared to analysts’ expectations of $119.55 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts anticipate that Aspen Technology will post $2.03 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of AZPN. ClariVest Asset Management LLC bought a new position in Aspen Technology during the first quarter valued at about $1,540,000. MARSHALL WACE ASIA Ltd bought a new position in Aspen Technology during the first quarter valued at about $314,000. Credit Suisse AG boosted its position in Aspen Technology by 37.2% in the first quarter. Credit Suisse AG now owns 109,284 shares of the technology company’s stock valued at $6,439,000 after buying an additional 29,605 shares in the last quarter. Stephens Investment Management Group LLC boosted its position in Aspen Technology by 3.6% in the first quarter. Stephens Investment Management Group LLC now owns 905,240 shares of the technology company’s stock valued at $53,337,000 after buying an additional 31,672 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in Aspen Technology during the first quarter valued at about $300,000.
About Aspen Technology
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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