Zacks Investment Research Downgrades Aspen Technology (AZPN) to Sell

Zacks Investment Research lowered shares of Aspen Technology (NASDAQ:AZPN) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “Aspen Technology Inc. is a recognized expert and leading provider of award-winning process optimization software and services. AspenTech’s integrated aspenONE solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to-end throughout the engineering, plant operations, and supply chain management processes, resulting in millions of dollars in cost savings. “

Other analysts have also recently issued research reports about the company. Canaccord Genuity boosted their price target on Aspen Technology from $62.00 to $63.00 and gave the stock a hold rating in a research report on Friday, October 27th. BidaskClub cut Aspen Technology from a buy rating to a hold rating in a research report on Tuesday, December 12th. Bank of America began coverage on Aspen Technology in a research report on Monday, November 6th. They issued a neutral rating and a $67.00 price target for the company. Finally, Robert W. Baird set a $63.00 price target on Aspen Technology and gave the stock a hold rating in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Aspen Technology currently has a consensus rating of Hold and a consensus target price of $63.63.

Aspen Technology (NASDAQ:AZPN) opened at $66.20 on Tuesday. Aspen Technology has a twelve month low of $52.23 and a twelve month high of $69.38. The firm has a market capitalization of $4,814.18, a price-to-earnings ratio of 30.87 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last issued its earnings results on Thursday, October 26th. The technology company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The firm had revenue of $122.80 million for the quarter, compared to the consensus estimate of $121.73 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. sell-side analysts expect that Aspen Technology will post 1.77 earnings per share for the current fiscal year.

In other Aspen Technology news, insider Karl E. Johnsen sold 2,619 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $64.41, for a total value of $168,689.79. Following the transaction, the insider now directly owns 40,063 shares in the company, valued at approximately $2,580,457.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jr. Robert M. Whelan sold 10,000 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $66.01, for a total value of $660,100.00. Following the completion of the transaction, the director now owns 25,559 shares in the company, valued at $1,687,149.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,197 shares of company stock valued at $931,360. Insiders own 0.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of AZPN. Amalgamated Bank raised its stake in Aspen Technology by 0.7% during the 2nd quarter. Amalgamated Bank now owns 9,635 shares of the technology company’s stock worth $532,000 after buying an additional 69 shares during the period. Renaissance Group LLC raised its stake in Aspen Technology by 2.5% during the 2nd quarter. Renaissance Group LLC now owns 5,871 shares of the technology company’s stock worth $324,000 after buying an additional 145 shares during the period. M&T Bank Corp raised its stake in Aspen Technology by 2.8% during the 2nd quarter. M&T Bank Corp now owns 5,834 shares of the technology company’s stock worth $322,000 after buying an additional 159 shares during the period. Quantbot Technologies LP increased its holdings in Aspen Technology by 1.1% during the 2nd quarter. Quantbot Technologies LP now owns 20,663 shares of the technology company’s stock worth $1,141,000 after purchasing an additional 217 shares in the last quarter. Finally, QS Investors LLC increased its holdings in Aspen Technology by 0.4% during the 2nd quarter. QS Investors LLC now owns 81,019 shares of the technology company’s stock worth $4,477,000 after purchasing an additional 288 shares in the last quarter.

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Aspen Technology Company Profile

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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