The stock of Aspen Technology, Inc. (NASDAQ:AZPN) hit a new 52-week high and has $72.23 target or 54.00% above today’s $46.90 share price. The 6 months bullish chart indicates low risk for the $3.76 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $72.23 price target is reached, the company will be worth $2.03 billion 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 183,355 shares traded hands. Aspen Technology, Inc. (NASDAQ:AZPN) has risen 42.47% since February 26, 2016 and is uptrending. It has outperformed by 32.04% the S&P500.
Analysts await Aspen Technology, Inc. (NASDAQ:AZPN) to report earnings on November, 3. They expect $0.39 EPS, down 11.36% or $0.05 from last year’s $0.44 per share. AZPN’s profit will be $31.27M for 30.06 P/E if the $0.39 EPS becomes a reality. After $0.41 actual EPS reported by Aspen Technology, Inc. for the previous quarter, Wall Street now forecasts -4.88% negative EPS growth.
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 -21.54% below today’s ($46.9) stock price. Aspen Technology has been the topic of 10 analyst reports since August 14, 2015 according to StockzIntelligence Inc. As per Tuesday, February 9, the company rating was initiated by Avondale. The rating was downgraded by Benchmark on Wednesday, January 13 to “Hold”. As per Friday, January 29, the company rating was maintained by Canaccord Genuity. The rating was downgraded by Avondale to “Underperform” on Friday, August 12. TheStreet downgraded the shares of AZPN in a report on Saturday, August 15 to “Buy” rating. JP Morgan reinitiated Aspen Technology, Inc. (NASDAQ:AZPN) rating on Friday, April 29. JP Morgan has “Underweight” rating and $36 price target. The company was maintained on Tuesday, April 26 by Benchmark.
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 is without 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.
Rhumbline Advisers holds 0.01% of its portfolio in Aspen Technology, Inc. (NASDAQ:AZPN) for 101,275 shares. Checchi Advisers has 867 shares for 0% of their US portfolio. Teachers Advsr Inc accumulated 0.01% or 133,231 shares. Blackrock Advisors Limited Liability accumulated 0.01% or 306,677 shares. Voya Management Ltd Co last reported 0.05% of its portfolio in the stock. Pictet Asset Limited holds 716,781 shares or 0.11% of its portfolio. The Ohio-based Victory Capital Mgmt has invested 0% in Aspen Technology, Inc. (NASDAQ:AZPN). Dimensional Fund Lp reported 1.32 million shares or 0.03% of all its holdings. The Minnesota-based Sit Invest Assocs has invested 0.12% in Aspen Technology, Inc. (NASDAQ:AZPN). Btim Corp reported 639,316 shares or 0.44% of all its holdings. Neuberger Berman Gp Limited Liability has 0.14% invested in the company for 2.58M shares. Alkeon Cap Mngmt Ltd Liability Corp has 603,203 shares for 0.48% of their US portfolio. Boston Advisors Ltd Liability Corp has invested 0.02% of its portfolio in Aspen Technology, Inc. (NASDAQ:AZPN). Brown Brothers Harriman & has 0.5% invested in the company for 2.41M shares. The Massachusetts-based Putnam Investments Ltd Liability Com has invested 0% in Aspen Technology, Inc. (NASDAQ:AZPN).
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