KeyCorp Raises Aspen Technology (AZPN) Price Target to $112.00

Aspen Technology (NASDAQ:AZPN) had its price objective increased by research analysts at KeyCorp from $100.00 to $112.00 in a research note issued to investors on Thursday, August 9th, The Fly reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price suggests a potential downside of 2.91% from the company’s current price.

Several other analysts have also recently commented on the stock. Berenberg Bank boosted their price target on shares of Aspen Technology to $98.00 and gave the stock a “buy” rating in a research note on Thursday, April 26th. ValuEngine downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Monday, July 2nd. Wedbush boosted their target price on shares of Aspen Technology from $74.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, April 26th. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Tuesday, May 1st. Finally, BidaskClub downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, June 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $97.63.

Shares of AZPN traded up $0.95 during trading hours on Thursday, reaching $115.36. 240,800 shares of the stock traded hands, compared to its average volume of 492,089. Aspen Technology has a 52-week low of $59.68 and a 52-week high of $115.61. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 2.41 and a beta of 1.14.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. The business had revenue of $125.96 million for the quarter, compared to analysts’ expectations of $125.60 million. Aspen Technology had a net margin of 29.77% and a negative return on equity of 53.91%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. equities research analysts anticipate that Aspen Technology will post 2.85 EPS for the current year.

In other Aspen Technology news, insider Karl E. Johnsen sold 9,438 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $108.07, for a total value of $1,019,964.66. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary E. Haroian sold 10,058 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $107.30, for a total transaction of $1,079,223.40. The disclosure for this sale can be found here. Insiders have sold a total of 33,250 shares of company stock worth $3,595,936 over the last quarter. 0.60% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its position in shares of Aspen Technology by 18.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the technology company’s stock worth $362,000 after purchasing an additional 600 shares during the period. Aperio Group LLC lifted its position in shares of Aspen Technology by 5.3% in the 1st quarter. Aperio Group LLC now owns 12,558 shares of the technology company’s stock worth $991,000 after purchasing an additional 635 shares during the period. Xact Kapitalforvaltning AB lifted its position in shares of Aspen Technology by 7.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 9,695 shares of the technology company’s stock worth $899,000 after purchasing an additional 700 shares during the period. FDx Advisors Inc. lifted its position in shares of Aspen Technology by 26.5% in the 2nd quarter. FDx Advisors Inc. now owns 3,536 shares of the technology company’s stock worth $328,000 after purchasing an additional 740 shares during the period. Finally, Macquarie Group Ltd. lifted its position in shares of Aspen Technology by 266.7% in the 2nd quarter. Macquarie Group Ltd. now owns 1,100 shares of the technology company’s stock worth $102,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Aspen Technology Company Profile

Aspen Technology, Inc, together with its subsidiaries, provides software and services in the United States, Europe, and internationally. It 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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The Fly

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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