Canaccord Genuity Boosts Aspen Technology, Inc. (AZPN) Price Target to $63.00

Aspen Technology, Inc. (NASDAQ:AZPN) had its price target raised by Canaccord Genuity from $62.00 to $63.00 in a research report report published on Friday. The firm currently has a hold rating on the technology company’s stock.

Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Aspen Technology from a hold rating to a buy rating and set a $67.00 target price for the company in a research report on Wednesday, August 16th. BidaskClub downgraded Aspen Technology from a strong-buy rating to a buy rating in a research report on Tuesday, July 25th. Robert W. Baird set a $63.00 target price on Aspen Technology and gave the company a hold rating in a research report on Friday, October 6th. Finally, Berenberg Bank started coverage on Aspen Technology in a research report on Wednesday, August 23rd. They issued a buy rating and a $70.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $61.88.

Aspen Technology (AZPN) opened at 65.31 on Friday. The company has a market capitalization of $4.77 billion, a PE ratio of 30.95 and a beta of 1.24. The firm’s 50-day moving average is $64.43 and its 200 day moving average is $60.13. Aspen Technology has a one year low of $47.82 and a one year high of $68.32.

Aspen Technology (NASDAQ:AZPN) last released its earnings results on Thursday, October 26th. The technology company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.05. The company had revenue of $122.80 million during the quarter, compared to the consensus estimate of $121.73 million. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. Aspen Technology’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. On average, equities analysts expect that Aspen Technology will post $1.99 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Canaccord Genuity Boosts Aspen Technology, Inc. (AZPN) Price Target to $63.00” was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of international trademark & copyright law. The correct version of this news story can be read at https://www.com-unik.info/2017/10/30/canaccord-genuity-boosts-aspen-technology-inc-azpn-price-target-to-63-00.html.

In other news, insider Karl E. Johnsen sold 1,969 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total transaction of $116,446.66. Following the completion of the transaction, the insider now directly owns 28,530 shares of the company’s stock, valued at $1,687,264.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP F G. Hammond sold 3,388 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total value of $205,312.80. Following the transaction, the vice president now directly owns 20,733 shares of the company’s stock, valued at $1,256,419.80. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. First Manhattan Co. acquired a new position in shares of Aspen Technology during the third quarter worth about $125,000. Paradigm Asset Management Co. LLC acquired a new position in shares of Aspen Technology during the second quarter worth about $138,000. Pacad Investment Ltd. acquired a new position in shares of Aspen Technology during the second quarter worth about $166,000. Advisor Group Inc. grew its position in shares of Aspen Technology by 69.9% during the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock worth $173,000 after buying an additional 1,296 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of Aspen Technology during the third quarter worth about $203,000.

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.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

What are top analysts saying about Aspen Technology Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Aspen Technology Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit