Aspen Technology, Inc. (NASDAQ:AZPN) insider Karl E. Johnsen sold 3,037 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $121.38, for a total value of $368,631.06. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website.
Shares of NASDAQ:AZPN opened at $116.05 on Friday. The company has a market capitalization of $7.89 billion, a P/E ratio of 56.33 and a beta of 1.61. Aspen Technology, Inc. has a 52 week low of $74.84 and a 52 week high of $124.96.
Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $148.00 million during the quarter, compared to the consensus estimate of $136.38 million. Aspen Technology had a net margin of 37.25% and a return on equity of 76.36%. Aspen Technology’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, analysts forecast that Aspen Technology, Inc. will post 3.26 EPS for the current fiscal year.
Several analysts have recently weighed in on the stock. BidaskClub raised shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $131.00 price target on shares of Aspen Technology in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $133.00 price target (up previously from $113.00) on shares of Aspen Technology in a research note on Wednesday, May 8th. Zacks Investment Research downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Canaccord Genuity boosted their price objective on shares of Aspen Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, January 24th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Aspen Technology currently has a consensus rating of “Buy” and an average price target of $117.25.
TRADEMARK VIOLATION NOTICE: This article was reported by Mayfield Recorder and is the sole property of of Mayfield Recorder. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://mayfieldrecorder.com/2019/05/18/karl-e-johnsen-sells-3037-shares-of-aspen-technology-inc-azpn-stock.html.
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.
Read More: What is a resistance level?
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.