Aspen Technology (AZPN) Stock Price Up 6.9%

Aspen Technology, Inc. (NASDAQ:AZPN)’s share price rose 6.9% on Wednesday . The stock traded as high as $86.21 and last traded at $85.61. Approximately 642,410 shares changed hands during trading, an increase of 24% from the average daily volume of 516,002 shares. The stock had previously closed at $80.05.

AZPN has been the topic of several research reports. BidaskClub lowered shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 20th. Wedbush upped their price objective on shares of Aspen Technology from $80.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Zacks Investment Research lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. Canaccord Genuity upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday. Finally, TheStreet upgraded shares of Aspen Technology from a “d-” rating to a “b” rating in a report on Friday, October 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $102.00.

The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of 41.89, a PEG ratio of 1.69 and a beta of 1.52.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Wednesday, October 24th. The technology company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.12. Aspen Technology had a net margin of 30.96% and a negative return on equity of 168.12%. The company had revenue of $114.17 million for the quarter, compared to analyst estimates of $113.49 million. Equities research analysts expect that Aspen Technology, Inc. will post 3.07 earnings per share for the current year.

In related news, CEO Antonio J. Pietri sold 7,095 shares of the company’s stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $77.49, for a total value of $549,791.55. Following the sale, the chief executive officer now owns 251,780 shares in the company, valued at approximately $19,510,432.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl E. Johnsen sold 2,387 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $80.69, for a total transaction of $192,607.03. Following the completion of the sale, the insider now owns 35,058 shares in the company, valued at approximately $2,828,830.02. The disclosure for this sale can be found here. Insiders sold a total of 9,582 shares of company stock worth $750,274 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. increased its stake in Aspen Technology by 18.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the technology company’s stock valued at $362,000 after buying an additional 600 shares during the last quarter. United Services Automobile Association increased its stake in Aspen Technology by 5.9% in the 2nd quarter. United Services Automobile Association now owns 12,148 shares of the technology company’s stock valued at $1,127,000 after buying an additional 673 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Aspen Technology by 7.2% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 10,395 shares of the technology company’s stock valued at $1,184,000 after buying an additional 700 shares during the last quarter. FDx Advisors Inc. increased its stake in Aspen Technology by 26.5% in the 2nd quarter. FDx Advisors Inc. now owns 3,536 shares of the technology company’s stock valued at $328,000 after buying an additional 740 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in Aspen Technology by 266.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,100 shares of the technology company’s stock valued at $102,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 97.30% of the company’s stock.

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About Aspen Technology (NASDAQ:AZPN)

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.

See Also: Return on Equity (ROE)

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