Aspen Technology Inc. (AZPN) Sees Strong Trading Volume
Aspen Technology Inc. (NASDAQ:AZPN) shares saw strong trading volume on Monday . 702,182 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 551,120 shares.The stock last traded at $46.04 and had previously closed at $45.49.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “strong-buy” rating and set a $43.00 price target for the company in a report on Wednesday, May 4th. Benchmark Co. boosted their price target on Aspen Technology from $28.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, April 26th. JPMorgan Chase & Co. assumed coverage on Aspen Technology in a report on Friday, April 29th. They issued an “underweight” rating and a $36.00 price target for the company. KeyCorp reiterated a “buy” rating and issued a $45.00 price target on shares of Aspen Technology in a report on Sunday, June 5th. Finally, Avondale Partners downgraded Aspen Technology from a “market perform” rating to an “underperform” rating and boosted their price target for the company from $39.00 to $42.00 in a report on Friday, August 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Aspen Technology presently has a consensus rating of “Hold” and a consensus price target of $39.71.
The company has a 50 day moving average price of $41.96 and a 200-day moving average price of $37.50. The stock has a market capitalization of $3.56 billion and a price-to-earnings ratio of 26.59.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. The company had revenue of $113.70 million for the quarter, compared to analyst estimates of $112.88 million. During the same quarter in the prior year, the business earned $0.39 EPS. Aspen Technology’s revenue was down .4% compared to the same quarter last year. Analysts predict that Aspen Technology Inc. will post $1.80 earnings per share for the current year.
In related news, CEO Antonio J. Pietri sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $39.00, for a total transaction of $175,500.00. Following the completion of the sale, the chief executive officer now directly owns 163,844 shares in the company, valued at $6,389,916. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of hedge funds have modified their holdings of the company. KBC Group NV boosted its stake in shares of Aspen Technology by 441.0% in the fourth quarter. KBC Group NV now owns 86,879 shares of the company’s stock worth $3,281,000 after buying an additional 70,819 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Aspen Technology during the fourth quarter worth $1,997,000. Marshall Wace LLP boosted its stake in shares of Aspen Technology by 317.0% in the fourth quarter. Marshall Wace LLP now owns 32,940 shares of the company’s stock worth $1,244,000 after buying an additional 25,040 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Aspen Technology by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 599,081 shares of the company’s stock worth $22,621,000 after buying an additional 10,233 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Aspen Technology by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 611,022 shares of the company’s stock worth $23,072,000 after buying an additional 9,406 shares during the last quarter.
Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.
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