The stock of Aspen Technology, Inc. (NASDAQ:AZPN) hit a new 52-week high and has $72.58 target or 44.00% above today’s $50.40 share price. The 9 months bullish chart indicates low risk for the $4.01 billion company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $72.58 price target is reached, the company will be worth $1.76B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 58,689 shares traded hands. Aspen Technology, Inc. (NASDAQ:AZPN) has risen 43.67% since April 12, 2016 and is uptrending. It has outperformed by 38.68% the S&P500.
Aspen Technology, Inc. (NASDAQ:AZPN) Ratings Coverage
Out of 4 analysts covering Aspen Technology (NASDAQ:AZPN), 0 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 0 are positive. $45 is the highest target while $28 is the lowest. The $36.80 average target is -26.98% below today’s ($50.4) stock price. Aspen Technology has been the topic of 10 analyst reports since August 14, 2015 according to StockzIntelligence Inc. As per Friday, January 29, the company rating was maintained by Canaccord Genuity. Benchmark maintained it with “Hold” rating and $34 target price in Tuesday, April 26 report. The stock of Aspen Technology, Inc. (NASDAQ:AZPN) earned “Hold” rating by Benchmark on Wednesday, January 13. Avondale initiated Aspen Technology, Inc. (NASDAQ:AZPN) rating on Tuesday, February 9. Avondale has “Market Perform” rating and $36 price target. The rating was downgraded by Avondale to “Underperform” on Friday, August 12. The rating was reinitiated by JP Morgan on Friday, April 29 with “Underweight”. TheStreet downgraded the shares of AZPN in a report on Saturday, August 15 to “Buy” rating.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment is 0.87 in 2016 Q2. Its the same as in 2016Q1. The ratio has no change, as 39 funds sold all Aspen Technology, Inc. shares owned while 74 reduced positions. only 21 funds bought stakes while 77 increased positions. They now own 85.87 million shares or 3.26% less from 88.77 million shares in 2016Q1.
Teachers Retirement Of The State Of Kentucky has 0.01% invested in the company for 11,560 shares. Trust Communication Of Vermont accumulated 0% or 100 shares. Next Grp owns 159 shares or 0% of their US portfolio. Principal Fincl Group Inc Inc accumulated 0.03% or 579,368 shares. The Bermuda-based Fil Limited has invested 0.09% in Aspen Technology, Inc. (NASDAQ:AZPN). Public Employees Retirement Association Of Colorado holds 0.16% or 488,310 shares in its portfolio. Price T Rowe Associate Inc Md holds 0% of its portfolio in Aspen Technology, Inc. (NASDAQ:AZPN) for 504,621 shares. State Board Of Administration Of Florida Retirement Sys accumulated 0.01% or 60,647 shares. Moreover, Envestnet Asset Inc has 0% invested in Aspen Technology, Inc. (NASDAQ:AZPN) for 27,330 shares. Commercial Bank Of America Corp De holds 0% or 224,926 shares in its portfolio. Mackenzie Financial Corp last reported 17,686 shares in the company. Piedmont Investment Ltd Limited Liability Company has invested 0% of its portfolio in Aspen Technology, Inc. (NASDAQ:AZPN). Blackrock Japan Com Ltd holds 0% or 10,483 shares in its portfolio. Swiss Comml Bank accumulated 138,800 shares or 0.01% of the stock. Colony Grp Ltd Liability Com, a Massachusetts-based fund reported 56,243 shares.
Another recent and important Aspen Technology, Inc. (NASDAQ:AZPN) news was published by Businesswire.com which published an article titled: “Aspen Technology Announces Date of First-Quarter Fiscal 2017 Financial Results …” on October 13, 2016.
AZPN Company Profile
Aspen Technology, Inc., incorporated on March 11, 1998, is a global well-known 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. The Firm operates through two divisions, which include subscription and software, and services. The subscription and software segment is engaged in the licensing of process optimization software solutions and associated support services. The services segment includes professional services and training. The Firm has developed its applications to design and optimize processes across approximately three principal business areas, including engineering, manufacturing and supply chain.
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