KeyCorp Reaffirms Buy Rating for Aspen Technology (AZPN)

KeyCorp reiterated their buy rating on shares of Aspen Technology (NASDAQ:AZPN) in a research report report published on Monday. The brokerage currently has a $83.00 price objective on the technology company’s stock, up from their prior price objective of $73.00.

Several other equities research analysts also recently issued reports on AZPN. Robert W. Baird set a $63.00 price objective on Aspen Technology and gave the stock a hold rating in a research note on Friday, October 6th. Canaccord Genuity increased their price objective on Aspen Technology from $62.00 to $63.00 and gave the stock a hold rating in a research note on Friday, October 27th. Zacks Investment Research raised Aspen Technology from a hold rating to a buy rating and set a $72.00 price objective for the company in a research note on Tuesday, October 31st. Bank of America initiated coverage on Aspen Technology in a research note on Monday, November 6th. They set a neutral rating and a $67.00 price target for the company. Finally, BidaskClub downgraded Aspen Technology from a buy rating to a hold rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $66.60.

Shares of Aspen Technology (AZPN) opened at $73.97 on Monday. Aspen Technology has a fifty-two week low of $52.23 and a fifty-two week high of $74.05. The company has a market capitalization of $5,370.00, a price-to-earnings ratio of 34.40 and a beta of 1.23.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.05. The firm 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%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. sell-side analysts predict that Aspen Technology will post 1.83 EPS for the current fiscal year.

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.01, for a total value of $660,100.00. Following the sale, the director now owns 25,559 shares of the company’s stock, valued at approximately $1,687,149.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP F G. Hammond sold 1,578 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $65.00, for a total value of $102,570.00. Following the completion of the sale, the vice president now directly owns 26,108 shares in the company, valued at approximately $1,697,020. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,197 shares of company stock worth $931,360. 0.80% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP lifted its position in shares of Aspen Technology by 63.8% in the 3rd quarter. GSA Capital Partners LLP now owns 28,777 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 11,213 shares during the period. California Public Employees Retirement System lifted its position in shares of Aspen Technology by 7.8% in the 3rd quarter. California Public Employees Retirement System now owns 207,667 shares of the technology company’s stock worth $13,044,000 after acquiring an additional 14,967 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Aspen Technology by 2.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 38,799 shares of the technology company’s stock worth $2,437,000 after acquiring an additional 818 shares during the period. Jane Street Group LLC bought a new stake in shares of Aspen Technology in the 3rd quarter worth approximately $371,000. Finally, Oribel Capital Management LP bought a new stake in shares of Aspen Technology in the 3rd quarter worth approximately $6,840,000.

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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.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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