Aspen Technology (NASDAQ: AZPN – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The firm currently has a $ 170.00 price target on the company’s technology stock. Zacks Investment Research’s price objective indicates a potential upside of 7.23% from the stock’s current price.
According to Zacks, “Aspen Technology’s Q3 performance benefited from improving customer demand. The company is well-poised to gain from its diversified product portfolio especially its asset optimization and management software solutions and Asset Performance Management (APM) suite. Rapid adoption of cloud-based solutions, proliferation of big data analytics and Internet of Things (IoT) technologies, along with higher spend on software, will likely drive its top line in the long haul. Strategic acquisitions are likely to boost top line going forward. Proposed integration with Emerson’s OSI Inc and the Geological Simulation Software business bodes well. Shares have outperformed the industry in the year-to-date period. However, stiff competition in the asset management market along with supply chain disruptions and logistics bottlenecks are added concern. ”
Other equities analysts have also recently issued reports about the stock. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $ 160.00 to $ 175.00 in a research report on Thursday, March 17th. StockNews.com assumed coverage on shares of Aspen Technology in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $ 168.57.
Aspen Technology stock opened at $ 158.54 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.40 and a current ratio of 3.40. The firm has a market cap of $ 10.57 billion, a price-to-earnings ratio of 39.54, a price-to-earnings-growth ratio of 4.47 and a beta of 1.31. Aspen Technology has a 1 year low of $ 122.29 and a 1 year high of $ 169.22. The firm’s 50 day moving average price is $ 153.80 and its two-hundred day moving average price is $ 151.45.
Aspen Technology (NASDAQ: AZPN – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The technology company reported $ 1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $ 1.35 by $ 0.03. The firm had revenue of $ 187.75 million for the quarter, compared to analyst estimates of $ 190.61 million. Aspen Technology had a net margin of 39.22% and a return on equity of 41.51%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $ 0.94 earnings per share. As a group, equities analysts predict that Aspen Technology will post 4.94 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of AZPN. First Horizon Advisors Inc. grew its holdings in shares of Aspen Technology by 956.3% during the 4th quarter. First Horizon Advisors Inc. now owns 169 shares of the technology company’s stock valued at $ 25,000 after acquiring an additional 153 shares in the last quarter. Confluence Wealth Services Inc. acquired a new stake in shares of Aspen Technology in the 4th quarter valued at $ 28,000. Parallel Advisors LLC lifted its stake in shares of Aspen Technology by 97.2% in the 4th quarter. Parallel Advisors LLC now owns 213 shares of the company’s technology stock valued at $ 32,000 after purchasing an additional 105 shares during the last quarter. JFS Wealth Advisors LLC acquired a new stake in shares of Aspen Technology in the 4th quarter valued at $ 33,000. Finally, National Bank of Canada FI acquired a new stake in shares of Aspen Technology in the 4th quarter valued at $ 34,000. Institutional investors and hedge funds own 99.64% of the company’s stock.
Aspen Technology Company Profile (Get Rating)
Aspen Technology, Inc., together with its subsidiaries, provides asset optimization solutions in North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company operates in two segments, Subscription and Software, and Services and Other. It offers asset optimization software that optimizes asset design, operations, and maintenance in various industrial environments.
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