Aspen Technology (NASDAQ:AZPN) Coverage Initiated at KeyCorp

Investment analysts at KeyCorp initiated coverage on shares of Aspen Technology (NASDAQ:AZPN) in a research report issued to clients and investors on Wednesday, April 10th, MarketBeat reports. The firm set an “overweight” rating and a $120.00 price target on the technology company’s stock. KeyCorp’s price objective points to a potential upside of 0.18% from the stock’s previous close. KeyCorp also issued estimates for Aspen Technology’s Q3 2019 earnings at $0.78 EPS, Q4 2019 earnings at $1.07 EPS, FY2019 earnings at $3.22 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.58 EPS, Q3 2020 earnings at $0.75 EPS, Q4 2020 earnings at $1.07 EPS and FY2020 earnings at $2.90 EPS.

AZPN has been the topic of a number of other reports. BidaskClub downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a report on Monday, February 4th. Benchmark upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Friday, January 4th. Zacks Investment Research cut shares of Aspen Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Wedbush restated a “neutral” rating and issued a $104.00 price objective on shares of Aspen Technology in a research report on Monday, March 18th. Finally, Canaccord Genuity upped their price objective on shares of Aspen Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, January 24th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Aspen Technology currently has an average rating of “Buy” and a consensus target price of $114.38.

Shares of NASDAQ:AZPN traded up $0.19 during midday trading on Wednesday, reaching $119.79. The company had a trading volume of 499,777 shares, compared to its average volume of 471,984. The company has a market capitalization of $8.31 billion, a P/E ratio of 58.15 and a beta of 1.60. Aspen Technology has a 52-week low of $74.84 and a 52-week high of $124.96.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.10. The business had revenue of $148.00 million for the quarter, compared to the consensus estimate of $136.38 million. Aspen Technology had a net margin of 37.25% and a return on equity of 76.36%. The company’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, analysts predict that Aspen Technology will post 3.26 EPS for the current year.

In related news, VP F G. Hammond sold 8,406 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $121.34, for a total value of $1,019,984.04. Following the completion of the sale, the vice president now owns 24,221 shares of the company’s stock, valued at $2,938,976.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Antonio J. Pietri sold 7,095 shares of the firm’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $99.49, for a total value of $705,881.55. Following the completion of the sale, the chief executive officer now directly owns 237,920 shares of the company’s stock, valued at approximately $23,670,660.80. The disclosure for this sale can be found here. Insiders sold 28,038 shares of company stock worth $3,245,992 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Bbva Compass Bancshares Inc. increased its holdings in shares of Aspen Technology by 1.8% during the first quarter. Bbva Compass Bancshares Inc. now owns 5,701 shares of the technology company’s stock valued at $594,000 after acquiring an additional 100 shares in the last quarter. Carillon Tower Advisers Inc. bought a new position in shares of Aspen Technology during the first quarter valued at $8,487,000. Stephens Investment Management Group LLC increased its holdings in shares of Aspen Technology by 0.5% during the first quarter. Stephens Investment Management Group LLC now owns 765,092 shares of the technology company’s stock valued at $79,768,000 after acquiring an additional 3,654 shares in the last quarter. Moloney Securities Asset Management LLC bought a new position in shares of Aspen Technology during the first quarter valued at $221,000. Finally, Quantum Capital Management bought a new position in shares of Aspen Technology during the first quarter valued at $202,000. 98.26% of the stock is owned by institutional investors.

About Aspen Technology

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company 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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Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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