Aspen Technology (NASDAQ:AZPN) Rating Lowered to Buy at ValuEngine

Aspen Technology (NASDAQ:AZPN) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $133.00 price target (up from $113.00) on shares of Aspen Technology in a report on Wednesday, May 8th. Bank of America raised Aspen Technology from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $88.00 to $116.00 in a research note on Tuesday, April 23rd. BidaskClub cut Aspen Technology from a “buy” rating to a “hold” rating in a research note on Thursday. Wedbush lifted their target price on Aspen Technology from $131.00 to $146.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Canaccord Genuity lifted their target price on Aspen Technology from $110.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Aspen Technology has a consensus rating of “Buy” and a consensus price target of $119.13.

AZPN stock traded down $4.04 during midday trading on Thursday, reaching $129.09. 463,194 shares of the company’s stock traded hands, compared to its average volume of 304,483. The business has a 50-day moving average of $129.18. Aspen Technology has a 1-year low of $74.84 and a 1-year high of $139.25. The stock has a market cap of $9.09 billion, a P/E ratio of 62.67 and a beta of 1.54.

In other news, CEO Antonio J. Pietri sold 5,900 shares of Aspen Technology stock in a transaction on Monday, May 6th. The stock was sold at an average price of $118.81, for a total value of $700,979.00. Following the completion of the sale, the chief executive officer now directly owns 207,497 shares of the company’s stock, valued at approximately $24,652,718.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.90% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in AZPN. Ellis Investment Partners LLC acquired a new stake in shares of Aspen Technology during the first quarter worth $33,000. Kavar Capital Partners LLC acquired a new stake in shares of Aspen Technology during the second quarter worth $54,000. Daiwa Securities Group Inc. acquired a new stake in shares of Aspen Technology during the second quarter worth $68,000. Meridian Wealth Management LLC acquired a new stake in shares of Aspen Technology during the first quarter worth $76,000. Finally, Anderson Fisher LLC acquired a new stake in shares of Aspen Technology during the first quarter worth $105,000. 98.80% of the stock is owned by institutional investors and hedge funds.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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