Canaccord Genuity Reaffirms Hold Rating for Aspen Technology, Inc. (AZPN)
Aspen Technology, Inc. (NASDAQ:AZPN)‘s stock had its “hold” rating restated by research analysts at Canaccord Genuity in a research report issued on Friday.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Friday, May 5th. Benchmark Co. reaffirmed a “hold” rating and set a $55.00 target price (up from $48.00) on shares of Aspen Technology in a research note on Wednesday, May 3rd. Wedbush reaffirmed a “neutral” rating and set a $59.00 target price on shares of Aspen Technology in a research note on Wednesday, June 28th. BidaskClub raised shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Robert W. Baird began coverage on shares of Aspen Technology in a research report on Wednesday, May 10th. They issued a “neutral” rating and a $63.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Aspen Technology has a consensus rating of “Buy” and a consensus price target of $60.29.
Shares of Aspen Technology (NASDAQ:AZPN) traded up 5.60% during mid-day trading on Friday, hitting $59.82. The stock had a trading volume of 1,365,634 shares. The stock has a market cap of $4.46 billion, a P/E ratio of 33.27 and a beta of 1.28. The company’s 50 day moving average is $56.42 and its 200-day moving average is $57.78. Aspen Technology has a 52-week low of $41.30 and a 52-week high of $64.34.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.29. Aspen Technology had a net margin of 29.85% and a negative return on equity of 80.54%. The firm had revenue of $123.68 million for the quarter, compared to the consensus estimate of $119.55 million. During the same period in the prior year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts anticipate that Aspen Technology will post $2.03 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. TrimTabs Asset Management LLC increased its stake in shares of Aspen Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,262 shares of the technology company’s stock worth $133,000 after buying an additional 1,064 shares in the last quarter. Paradigm Asset Management Co. LLC purchased a new stake in shares of Aspen Technology during the second quarter worth approximately $138,000. Pacad Investment Ltd. purchased a new stake in shares of Aspen Technology during the second quarter worth approximately $166,000. Advisor Group Inc. increased its stake in shares of Aspen Technology by 69.9% in the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock worth $173,000 after buying an additional 1,296 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Aspen Technology by 12.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock worth $183,000 after buying an additional 357 shares in the last quarter.
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.
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