Aspen Technology, Inc. (NASDAQ:AZPN) has been given a consensus rating of “Hold” by the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $59.50.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Friday, May 5th. Wedbush restated a “neutral” rating and issued a $59.00 price target on shares of Aspen Technology in a research note on Wednesday, June 28th. Canaccord Genuity restated a “hold” rating and issued a $60.00 price target on shares of Aspen Technology in a research note on Friday, June 9th. Robert W. Baird assumed coverage on Aspen Technology in a research note on Wednesday, May 10th. They issued a “neutral” rating and a $63.00 price target on the stock. Finally, Benchmark Co. restated a “hold” rating and issued a $55.00 price target (up previously from $48.00) on shares of Aspen Technology in a research note on Wednesday, May 3rd.

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Shares of Aspen Technology (AZPN) traded up 0.67% during midday trading on Friday, hitting $56.68. The stock had a trading volume of 400,450 shares. Aspen Technology has a 1-year low of $41.03 and a 1-year high of $64.34. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 31.52 and a beta of 1.28. The firm’s 50-day moving average price is $56.74 and its 200-day moving average price is $57.65.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.09. The company had revenue of $119.28 million for the quarter, compared to the consensus estimate of $117.64 million. Aspen Technology had a negative return on equity of 80.54% and a net margin of 29.85%. Analysts forecast that Aspen Technology will post $1.97 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cookson Peirce & Co. Inc. acquired a new position in Aspen Technology during the first quarter valued at about $243,000. Canada Pension Plan Investment Board acquired a new position in Aspen Technology during the first quarter valued at about $14,783,000. Adams Diversified Equity Fund Inc. acquired a new position in Aspen Technology during the first quarter valued at about $1,279,000. Wells Fargo & Company MN boosted its position in Aspen Technology by 1.3% in the first quarter. Wells Fargo & Company MN now owns 1,087,409 shares of the technology company’s stock valued at $64,069,000 after buying an additional 14,131 shares during the period. Finally, Old Mutual Global Investors UK Ltd. boosted its position in Aspen Technology by 2,444.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 102,799 shares of the technology company’s stock valued at $6,056,000 after buying an additional 98,759 shares during the period.

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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