Aspen Technology, Inc. (NASDAQ:AZPN) Receives Consensus Recommendation of “Hold” from Brokerages

Aspen Technology, Inc. (NASDAQ:AZPNGet Rating) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $243.40.

Several brokerages have weighed in on AZPN. Wolfe Research began coverage on Aspen Technology in a report on Tuesday, August 16th. They set a “market perform” rating for the company. Piper Sandler increased their price objective on Aspen Technology from $189.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, September 19th. KeyCorp increased their target price on Aspen Technology from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, October 27th. StockNews.com started coverage on Aspen Technology in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Robert W. Baird increased their target price on Aspen Technology to $242.00 in a research report on Thursday, October 27th.

Insider Activity

In other news, VP F G. Hammond sold 4,262 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $211.57, for a total transaction of $901,711.34. Following the transaction, the vice president now directly owns 20,606 shares of the company’s stock, valued at $4,359,611.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Institutional Trading of Aspen Technology

Several large investors have recently modified their holdings of AZPN. Whittier Trust Co. boosted its position in Aspen Technology by 2.8% during the 3rd quarter. Whittier Trust Co. now owns 2,060 shares of the technology company’s stock valued at $491,000 after acquiring an additional 56 shares in the last quarter. Eagle Bay Advisors LLC lifted its holdings in shares of Aspen Technology by 20.7% during the second quarter. Eagle Bay Advisors LLC now owns 332 shares of the technology company’s stock valued at $61,000 after purchasing an additional 57 shares during the last quarter. Heritage Wealth Management LLC lifted its holdings in shares of Aspen Technology by 4.1% during the third quarter. Heritage Wealth Management LLC now owns 1,449 shares of the technology company’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. MUFG Americas Holdings Corp lifted its holdings in shares of Aspen Technology by 17.4% during the first quarter. MUFG Americas Holdings Corp now owns 431 shares of the technology company’s stock valued at $71,000 after purchasing an additional 64 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Aspen Technology by 3.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,978 shares of the technology company’s stock valued at $470,000 after purchasing an additional 64 shares during the last quarter. 93.73% of the stock is owned by institutional investors.

Aspen Technology Stock Performance

AZPN stock opened at $231.00 on Tuesday. The firm has a market cap of $14.91 billion, a PE ratio of 77.00, a P/E/G ratio of 2.20 and a beta of 1.01. The company has a quick ratio of 4.07, a current ratio of 3.24 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average of $239.09 and a 200-day moving average of $211.16. Aspen Technology has a 12-month low of $135.48 and a 12-month high of $263.59.

Aspen Technology (NASDAQ:AZPNGet Rating) last released its earnings results on Wednesday, October 26th. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.95. The company had revenue of $250.82 million during the quarter, compared to analyst estimates of $236.76 million. Aspen Technology had a return on equity of 5.75% and a net margin of 21.55%. Aspen Technology’s quarterly revenue was up 84.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, sell-side analysts expect that Aspen Technology will post 5.99 earnings per share for the current year.

Aspen Technology Company Profile

(Get Rating)

Aspen Technology together with its subsidiaries develops and supplies integrated software and services that enable the process industries to design, operate, manage, and optimize their business processes. Its software applications utilize proprietary empirical models of chemical manufacturing processes to enhance plant and process design, economic evaluation, production, production planning and scheduling, supply chain optimization, and operational performance.

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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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