Robert W. Baird Reiterates “$63.00” Price Target for Aspen Technology, Inc. (AZPN)

Robert W. Baird set a $63.00 target price on Aspen Technology, Inc. (NASDAQ:AZPN) in a report released on Friday. The firm currently has a hold rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Aspen Technology from a hold rating to a sell rating in a research note on Tuesday, July 4th. Wedbush reaffirmed a neutral rating and issued a $59.00 target price on shares of Aspen Technology in a research note on Wednesday, June 28th. Canaccord Genuity reaffirmed a hold rating and issued a $60.00 target price on shares of Aspen Technology in a research note on Friday, June 9th. BidaskClub lowered Aspen Technology from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Finally, Berenberg Bank started coverage on Aspen Technology in a research note on Wednesday, August 23rd. They issued a buy rating and a $70.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $61.50.

Aspen Technology (NASDAQ:AZPN) opened at 64.72 on Friday. The company’s 50-day moving average price is $62.78 and its 200-day moving average price is $59.32. Aspen Technology has a 12 month low of $45.47 and a 12 month high of $64.87. The stock has a market cap of $4.73 billion, a P/E ratio of 30.67 and a beta of 1.24.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.29. Aspen Technology had a negative return on equity of 73.17% and a net margin of 33.58%. The firm had revenue of $123.68 million for the quarter, compared to analyst estimates of $119.55 million. During the same quarter in the prior year, the company earned $0.44 EPS. Aspen Technology’s revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Aspen Technology will post $1.99 earnings per share for the current year.

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In other Aspen Technology news, VP F G. Hammond sold 3,388 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total transaction of $205,312.80. Following the transaction, the vice president now owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karl E. Johnsen sold 1,969 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total value of $116,446.66. Following the transaction, the insider now directly owns 28,530 shares in the company, valued at approximately $1,687,264.20. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Jennison Associates LLC lifted its stake in shares of Aspen Technology by 354.1% during the 2nd quarter. Jennison Associates LLC now owns 31,854 shares of the technology company’s stock worth $1,760,000 after purchasing an additional 24,839 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in shares of Aspen Technology during the 1st quarter worth $314,000. Credit Suisse AG lifted its stake in shares of Aspen Technology by 37.2% during the 1st quarter. Credit Suisse AG now owns 109,284 shares of the technology company’s stock worth $6,439,000 after purchasing an additional 29,605 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Aspen Technology during the 1st quarter worth $300,000. Finally, Comerica Bank lifted its stake in shares of Aspen Technology by 6.4% during the 1st quart

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Aspen Technology from a hold rating to a sell rating in a research note on Tuesday, July 4th. Wedbush reaffirmed a neutral rating and issued a $59.00 target price on shares of Aspen Technology in a research note on Wednesday, June 28th. Canaccord Genuity reaffirmed a hold rating and issued a $60.00 target price on shares of Aspen Technology in a research note on Friday, June 9th. BidaskClub lowered Aspen Technology from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Finally, Berenberg Bank started coverage on Aspen Technology in a research note on Wednesday, August 23rd. They issued a buy rating and a $70.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $61.50.

Aspen Technology (NASDAQ:AZPN) opened at 64.72 on Friday. The company’s 50-day moving average price is $62.78 and its 200-day moving average price is $59.32. Aspen Technology has a 12 month low of $45.47 and a 12 month high of $64.87. The stock has a market cap of $4.73 billion, a P/E ratio of 30.67 and a beta of 1.24.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.29. Aspen Technology had a negative return on equity of 73.17% and a net margin of 33.58%. The firm had revenue of $123.68 million for the quarter, compared to analyst estimates of $119.55 million. During the same quarter in the prior year, the company earned $0.44 EPS. Aspen Technology’s revenue was up 8.8% on a year-over-year basis. Equities analysts forecast that Aspen Technology will post $1.99 earnings per share for the current year.

WARNING: This piece was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://ledgergazette.com/2017/10/09/robert-w-baird-reiterates-63-00-price-target-for-aspen-technology-inc-azpn.html.

In other Aspen Technology news, VP F G. Hammond sold 3,388 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total transaction of $205,312.80. Following the transaction, the vice president now owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karl E. Johnsen sold 1,969 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total value of $116,446.66. Following the transaction, the insider now directly owns 28,530 shares in the company, valued at approximately $1,687,264.20. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Jennison Associates LLC lifted its stake in shares of Aspen Technology by 354.1% during the 2nd quarter. Jennison Associates LLC now owns 31,854 shares of the technology company’s stock worth $1,760,000 after purchasing an additional 24,839 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in shares of Aspen Technology during the 1st quarter worth $314,000. Credit Suisse AG lifted its stake in shares of Aspen Technology by 37.2% during the 1st quarter. Credit Suisse AG now owns 109,284 shares of the technology company’s stock worth $6,439,000 after purchasing an additional 29,605 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Aspen Technology during the 1st quarter worth $300,000. Finally, Comerica Bank lifted its stake in shares of Aspen Technology by 6.4% during the 1st quarter. Comerica Bank now owns 4,302 shares of the technology company’s stock worth $266,000 after purchasing an additional 259 shares during the period.

Aspen Technology Company Profile

Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.

Analyst Recommendations for Aspen Technology (NASDAQ:AZPN)

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