Trade Report: The Zacks Investment Research Downgrades Aspen Technology Inc. (AZPN) to Hold

The Zacks Investment Research Downgrades Aspen Technology Inc. (AZPN) to Hold

Aspen Technology Inc. (NASDAQ:AZPN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Aspen Technology Inc. is a recognized expert and leading provider of award-winning process optimization software and services. AspenTech’s integrated aspenONE solutions enable manufacturers to reduce costs, increase capacity, and optimize operational performance end-to-end throughout the engineering, plant operations, and supply chain management processes, resulting in millions of dollars in cost savings. “

Separately, Avondale Partners lowered shares of Aspen Technology from a “market perform” rating to an “underperform” rating and boosted their target price for the company from $39.00 to $42.00 in a research note on Friday, August 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $40.71.

Shares of Aspen Technology (NASDAQ:AZPN) opened at 46.11 on Wednesday. The company’s 50-day moving average price is $46.13 and its 200 day moving average price is $41.10. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 27.45 and a beta of 1.06. Aspen Technology has a 1-year low of $29.25 and a 1-year high of $48.08.

Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Thursday, August 11th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The business earned $113.70 million during the quarter, compared to analyst estimates of $112.88 million. Aspen Technology had a net margin of 29.63% and a negative return on equity of 297.67%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. On average, analysts predict that Aspen Technology will post $1.80 earnings per share for the current fiscal year.

In other Aspen Technology news, EVP William Griffin sold 1,902 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $47.09, for a total value of $89,565.18. Following the completion of the sale, the executive vice president now directly owns 53,102 shares in the company, valued at $2,500,573.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Antonio J. Pietri sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $45.03, for a total transaction of $202,635.00. Following the completion of the sale, the chief executive officer now owns 152,750 shares of the company’s stock, valued at $6,878,332.50. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in shares of Aspen Technology by 77.3% in the second quarter. Victory Capital Management Inc. now owns 2,525 shares of the company’s stock valued at $102,000 after buying an additional 1,101 shares during the period. Advisor Group Inc. bought a new stake in Aspen Technology during the second quarter valued at approximately $114,000. BNP Paribas Arbitrage SA increased its stake in Aspen Technology by 5,010.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,271 shares of the company’s stock valued at $132,000 after buying an additional 3,207 shares during the last quarter. Toronto Dominion Bank bought a new stake in Aspen Technology during the second quarter valued at approximately $135,000. Finally, Seven Eight Capital LLC bought a new stake in Aspen Technology during the first quarter valued at approximately $137,000.

Aspen Technology Company Profile

Aspen Technology, Inc provides process optimization software solutions designed to manage and optimize plant and process design, operational performance and supply chain planning. The Company operates through two segments: subscription and software, and services. Its subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services.

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