June 25, 2024

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StockNews.com Upgrades Aspen Technology (NASDAQ:AZPN) to “Buy”

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Aspen Technology (NASDAQ:AZPNGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other equities analysts have also issued reports on AZPN. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $160.00 to $175.00 in a report on Thursday, March 17th. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Monday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Aspen Technology has a consensus rating of “Buy” and an average price target of $168.57.

Shares of NASDAQ:AZPN opened at $162.41 on Friday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.33. The stock has a market cap of $10.82 billion, a PE ratio of 40.50, a price-to-earnings-growth ratio of 4.08 and a beta of 1.26. The stock’s fifty day simple moving average is $156.31 and its two-hundred day simple moving average is $151.64. Aspen Technology has a 1-year low of $122.29 and a 1-year high of $170.16.

Aspen Technology (NASDAQ:AZPNGet Rating) last announced its earnings results on Wednesday, April 27th. The technology company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. Aspen Technology had a net margin of 39.22% and a return on equity of 40.86%. The company had revenue of $187.75 million during the quarter, compared to the consensus estimate of $190.61 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, sell-side analysts forecast that Aspen Technology will post 5.04 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its holdings in Aspen Technology by 17.6% during the 3rd quarter. Barclays PLC now owns 130,182 shares of the technology company’s stock valued at $15,986,000 after acquiring an additional 19,498 shares during the period. Brown Advisory Inc. lifted its holdings in Aspen Technology by 22.3% during the 4th quarter. Brown Advisory Inc. now owns 37,062 shares of the technology company’s stock worth $5,641,000 after purchasing an additional 6,746 shares in the last quarter. NewEdge Wealth LLC boosted its stake in Aspen Technology by 4.0% in the 3rd quarter. NewEdge Wealth LLC now owns 20,640 shares of the technology company’s stock worth $2,535,000 after purchasing an additional 785 shares during the period. CVA Family Office LLC purchased a new position in Aspen Technology during the 4th quarter valued at about $52,000. Finally, FDx Advisors Inc. increased its position in shares of Aspen Technology by 2.2% during the fourth quarter. FDx Advisors Inc. now owns 13,720 shares of the technology company’s stock valued at $2,088,000 after buying an additional 295 shares during the period. Institutional investors own 96.49% of the company’s stock.

About Aspen Technology (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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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.

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Aspen Technology (NASDAQ:AZPNGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other equities analysts have also issued reports on AZPN. Loop Capital raised Aspen Technology from a “hold” rating to a “buy” rating and upped their target price for the company from $160.00 to $175.00 in a report on Thursday, March 17th. Zacks Investment Research upgraded Aspen Technology from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Monday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Aspen Technology has a consensus rating of “Buy” and an average price target of $168.57.

Shares of NASDAQ:AZPN opened at $162.41 on Friday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.33. The stock has a market cap of $10.82 billion, a PE ratio of 40.50, a price-to-earnings-growth ratio of 4.08 and a beta of 1.26. The stock’s fifty day simple moving average is $156.31 and its two-hundred day simple moving average is $151.64. Aspen Technology has a 1-year low of $122.29 and a 1-year high of $170.16.

Aspen Technology (NASDAQ:AZPNGet Rating) last announced its earnings results on Wednesday, April 27th. The technology company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. Aspen Technology had a net margin of 39.22% and a return on equity of 40.86%. The company had revenue of $187.75 million during the quarter, compared to the consensus estimate of $190.61 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, sell-side analysts forecast that Aspen Technology will post 5.04 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its holdings in Aspen Technology by 17.6% during the 3rd quarter. Barclays PLC now owns 130,182 shares of the technology company’s stock valued at $15,986,000 after acquiring an additional 19,498 shares during the period. Brown Advisory Inc. lifted its holdings in Aspen Technology by 22.3% during the 4th quarter. Brown Advisory Inc. now owns 37,062 shares of the technology company’s stock worth $5,641,000 after purchasing an additional 6,746 shares in the last quarter. NewEdge Wealth LLC boosted its stake in Aspen Technology by 4.0% in the 3rd quarter. NewEdge Wealth LLC now owns 20,640 shares of the technology company’s stock worth $2,535,000 after purchasing an additional 785 shares during the period. CVA Family Office LLC purchased a new position in Aspen Technology during the 4th quarter valued at about $52,000. Finally, FDx Advisors Inc. increased its position in shares of Aspen Technology by 2.2% during the fourth quarter. FDx Advisors Inc. now owns 13,720 shares of the technology company’s stock valued at $2,088,000 after buying an additional 295 shares during the period. Institutional investors own 96.49% of the company’s stock.

About Aspen Technology (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.

Featured Articles

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.

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