Aspen Technology (NASDAQ:AZPN – Get Rating) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat.com reports. They currently have a $162.00 price objective on the technology company’s stock, down from their previous price objective of $170.00. Robert W. Baird’s price target would suggest a potential downside of 13.61% from the company’s previous close.
AZPN has been the topic of several other research reports. StockNews.com cut Aspen Technology from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Loop Capital upped their price objective on Aspen Technology from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, June 15th. Piper Sandler upped their price objective on Aspen Technology from $159.00 to $189.00 and gave the company a “neutral” rating in a research note on Tuesday, June 28th. Bank of America upped their price objective on Aspen Technology from $176.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, June 6th. Finally, TheStreet lowered Aspen Technology from a “b” rating to a “c+” rating in a report on Tuesday, May 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $193.33.
Shares of NASDAQ AZPN opened at $187.52 on Thursday. Aspen Technology has a 1-year low of $122.29 and a 1-year high of $210.60. The business has a 50-day moving average of $186.31 and a 200-day moving average of $163.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.07 and a quick ratio of 4.07. The company has a market capitalization of $12.16 billion, a price-to-earnings ratio of 46.76, a PEG ratio of 1.90 and a beta of 1.21.
Aspen Technology (NASDAQ:AZPN – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. Aspen Technology had a return on equity of 40.86% and a net margin of 39.22%. The business had revenue of $187.75 million for the quarter, compared to analysts’ expectations of $190.61 million. During the same quarter in the previous year, the firm posted $0.94 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year. Research analysts expect that Aspen Technology will post 5.08 EPS for the current fiscal year.
In other Aspen Technology news, Director Jr. Robert M. Whelan sold 4,010 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $159.07, for a total transaction of $637,870.70. Following the completion of the transaction, the director now directly owns 12,865 shares of the company’s stock, valued at approximately $2,046,435.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Aspen Technology by 6.5% during the 1st quarter. BlackRock Inc. now owns 6,645,133 shares of the technology company’s stock valued at $1,098,905,000 after acquiring an additional 407,220 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Aspen Technology by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,336,062 shares of the technology company’s stock valued at $1,047,795,000 after acquiring an additional 51,393 shares during the last quarter. Standard Investments LLC lifted its position in shares of Aspen Technology by 22.2% during the 4th quarter. Standard Investments LLC now owns 2,439,000 shares of the technology company’s stock valued at $371,216,000 after acquiring an additional 443,000 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Aspen Technology by 2.2% during the 4th quarter. Nordea Investment Management AB now owns 2,304,011 shares of the technology company’s stock valued at $351,892,000 after acquiring an additional 49,848 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Aspen Technology by 2.1% during the 1st quarter. State Street Corp now owns 1,812,165 shares of the technology company’s stock valued at $299,678,000 after acquiring an additional 36,999 shares during the last quarter. Institutional investors own 96.49% of the company’s stock.
About Aspen Technology (Get Rating)
Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It serves bulk chemicals, consumer packaged goods, downstream, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, upstream, and water and wastewater industries; power generation, transmission, and distribution industries; and engineering, procurement, and construction industries.
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