Wedbush Increases Aspen Technology (NASDAQ:AZPN) Price Target to $154.00

Aspen Technology (NASDAQ:AZPN) had its target price increased by analysts at Wedbush from $145.00 to $154.00 in a research report issued on Tuesday, MarketBeat Ratings reports. The firm presently has a “positive” rating on the technology company’s stock. Wedbush’s target price indicates a potential upside of 9.80% from the stock’s current price.

AZPN has been the topic of several other reports. KeyCorp raised their price target on shares of Aspen Technology from $141.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. BidaskClub raised shares of Aspen Technology from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 7th. Finally, ValuEngine upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Aspen Technology presently has an average rating of “Hold” and an average price target of $135.00.

Shares of NASDAQ:AZPN traded up $0.05 during midday trading on Tuesday, hitting $140.25. The company’s stock had a trading volume of 32,643 shares, compared to its average volume of 347,537. The business’s 50 day simple moving average is $124.66 and its 200 day simple moving average is $125.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $9.55 billion, a P/E ratio of 37.20 and a beta of 1.52. Aspen Technology has a 12-month low of $88.41 and a 12-month high of $142.32.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.30. The firm had revenue of $134.09 million for the quarter, compared to the consensus estimate of $119.49 million. Aspen Technology had a net margin of 43.83% and a return on equity of 67.12%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. On average, sell-side analysts predict that Aspen Technology will post 3.32 earnings per share for the current fiscal year.

In related news, CFO Karl E. Johnsen sold 2,310 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $116.82, for a total transaction of $269,854.20. Following the completion of the sale, the chief financial officer now directly owns 28,667 shares in the company, valued at $3,348,878.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Aspen Technology by 2.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,072,554 shares of the technology company’s stock valued at $754,697,000 after acquiring an additional 155,276 shares during the last quarter. BlackRock Inc. increased its position in shares of Aspen Technology by 3.8% during the second quarter. BlackRock Inc. now owns 3,877,106 shares of the technology company’s stock valued at $481,849,000 after acquiring an additional 141,490 shares during the last quarter. Bamco Inc. NY increased its position in shares of Aspen Technology by 1.6% during the second quarter. Bamco Inc. NY now owns 1,206,716 shares of the technology company’s stock valued at $149,971,000 after acquiring an additional 18,950 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Aspen Technology by 9,715.5% during the third quarter. Point72 Asset Management L.P. now owns 398,315 shares of the technology company’s stock valued at $49,025,000 after acquiring an additional 394,257 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its position in shares of Aspen Technology by 2.7% during the fourth quarter. Wedge Capital Management L L P NC now owns 370,066 shares of the technology company’s stock valued at $44,752,000 after acquiring an additional 9,654 shares during the last quarter. Institutional investors and hedge funds own 97.09% of the company’s stock.

About Aspen Technology

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.

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