Aspen Technology (NASDAQ:AZPN) Price Target Increased to $146.00 by Analysts at Wedbush

Aspen Technology (NASDAQ:AZPN) had its price objective raised by Wedbush from $131.00 to $146.00 in a research note released on Monday morning, The Fly reports. Wedbush currently has an outperform rating on the technology company’s stock.

Other analysts have also recently issued research reports about the company. Benchmark reissued a buy rating and issued a $80.00 price objective (up previously from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. Zacks Investment Research cut GALP ENERGIA SG/ADR from a hold rating to a sell rating in a research report on Monday, May 6th. Canaccord Genuity lowered their price objective on Delta 9 Cannabis from C$2.40 to C$2.20 in a research report on Thursday, April 25th. KeyCorp raised their price objective on Ingersoll-Rand from $112.00 to $130.00 and gave the stock an overweight rating in a research report on Wednesday, April 10th. Finally, Bank of America set a $64.00 price objective on Verizon Communications and gave the stock a buy rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $119.13.

Shares of NASDAQ:AZPN opened at $135.17 on Monday. Aspen Technology has a 12-month low of $74.84 and a 12-month high of $136.41. The firm has a fifty day moving average of $124.64. The stock has a market cap of $9.35 billion, a P/E ratio of 48.62 and a beta of 1.56.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.10. Aspen Technology had a return on equity of 76.36% and a net margin of 37.25%. The business had revenue of $148.00 million for the quarter, compared to the consensus estimate of $136.38 million. During the same period last year, the business posted $0.52 EPS. The business’s revenue was up 15.8% compared to the same quarter last year. Research analysts expect that Aspen Technology will post 3.26 earnings per share for the current fiscal year.

In other Aspen Technology news, insider Karl E. Johnsen sold 3,037 shares of Aspen Technology stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $121.38, for a total transaction of $368,631.06. Following the completion of the sale, the insider now owns 26,453 shares of the company’s stock, valued at approximately $3,210,865.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Antonio J. Pietri sold 44,754 shares of Aspen Technology stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $119.30, for a total value of $5,339,152.20. Following the sale, the chief executive officer now directly owns 227,577 shares of the company’s stock, valued at approximately $27,149,936.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,597 shares of company stock valued at $8,580,241. 0.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. lifted its position in Aspen Technology by 50.3% during the fourth quarter. Advisor Group Inc. now owns 5,772 shares of the technology company’s stock worth $475,000 after purchasing an additional 1,932 shares during the period. Great West Life Assurance Co. Can lifted its position in Aspen Technology by 9.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 8,334 shares of the technology company’s stock worth $661,000 after purchasing an additional 690 shares during the period. Stifel Financial Corp lifted its position in Aspen Technology by 0.4% during the fourth quarter. Stifel Financial Corp now owns 107,233 shares of the technology company’s stock worth $8,828,000 after purchasing an additional 396 shares during the period. California State Teachers Retirement System lifted its position in Aspen Technology by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 112,816 shares of the technology company’s stock worth $9,271,000 after purchasing an additional 2,474 shares during the period. Finally, BOKF NA bought a new stake in Aspen Technology during the fourth quarter worth about $460,000. 98.61% 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.

Recommended Story: Real Estate Investment Trust (REIT) ETF

The Fly

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

Receive News & Ratings for Aspen Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology and related companies with MarketBeat.com's FREE daily email newsletter.