BidaskClub Downgrades Aspen Technology (NASDAQ:AZPN) to Hold

Aspen Technology (NASDAQ:AZPN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, BidAskClub reports.

Several other research analysts also recently commented on AZPN. Bank of America raised Aspen Technology from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $88.00 to $116.00 in a research note on Tuesday, April 23rd. Zacks Investment Research downgraded Aspen Technology from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Canaccord Genuity boosted their target price on Aspen Technology from $110.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Benchmark restated 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. Finally, ValuEngine upgraded Aspen Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Aspen Technology presently has an average rating of “Buy” and a consensus price target of $119.13.

NASDAQ AZPN traded down $4.04 during trading on Thursday, hitting $129.09. 463,194 shares of the company’s stock were exchanged, compared to its average volume of 304,483. The stock has a market capitalization of $9.09 billion, a P/E ratio of 62.67 and a beta of 1.54. Aspen Technology has a fifty-two week low of $74.84 and a fifty-two week high of $139.25. The firm’s 50 day moving average price is $129.18.

In other news, CEO Antonio J. Pietri sold 5,900 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $118.81, for a total transaction of $700,979.00. Following the sale, the chief executive officer now directly owns 207,497 shares in the company, valued at $24,652,718.57. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in AZPN. Norges Bank bought a new stake in shares of Aspen Technology during the fourth quarter worth about $54,448,000. Wedge Capital Management L L P NC bought a new stake in Aspen Technology in the first quarter valued at approximately $44,882,000. William Blair Investment Management LLC boosted its holdings in Aspen Technology by 32.3% in the first quarter. William Blair Investment Management LLC now owns 1,582,680 shares of the technology company’s stock valued at $165,010,000 after acquiring an additional 386,376 shares during the last quarter. Riverbridge Partners LLC bought a new stake in Aspen Technology in the second quarter valued at approximately $22,156,000. Finally, Scout Investments Inc. bought a new stake in Aspen Technology in the first quarter valued at approximately $12,684,000. Institutional investors own 98.80% of the company’s stock.

Aspen Technology Company Profile

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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