Price Don’t Lie: What Will Happen to Aspen Technology, Inc. Next? The Stock Just Reaches 52-Week High

Price Don't Lie: What Will Happen to Aspen Technology, Inc. Next? The Stock Just Reaches 52 Week High

The stock of Aspen Technology, Inc. (NASDAQ:AZPN) hit a new 52-week high and has $66.98 target or 29.00% above today’s $51.92 share price. The 9 months bullish chart indicates low risk for the $4.03B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $66.98 price target is reached, the company will be worth $1.17 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 91,876 shares traded hands. Aspen Technology, Inc. (NASDAQ:AZPN) has risen 43.64% since April 19, 2016 and is uptrending. It has outperformed by 39.78% 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. Aspen Technology has been the topic of 10 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating given on Tuesday, February 9 by Avondale. The company was maintained on Friday, January 29 by Canaccord Genuity. Benchmark maintained Aspen Technology, Inc. (NASDAQ:AZPN) rating on Tuesday, April 26. Benchmark has “Hold” rating and $34 price target. As per Wednesday, January 13, the company rating was downgraded by Benchmark. TheStreet downgraded Aspen Technology, Inc. (NASDAQ:AZPN) on Saturday, August 15 to “Buy” rating. The firm earned “Underweight” rating on Friday, April 29 by JP Morgan. The firm has “Underperform” rating given on Friday, August 12 by Avondale.

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 increased to 1.04 in 2016 Q2. Its up 0.17, from 0.87 in 2016Q1. The ratio improved, as 39 funds sold all Aspen Technology, Inc. shares owned while 74 reduced positions. 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.
The Illinois-based Northern Tru Corp has invested 0.02% in Aspen Technology, Inc. (NASDAQ:AZPN). Cim Investment Mangement Inc last reported 0.11% of its portfolio in the stock. Creative Planning last reported 0.01% of its portfolio in the stock. Numeric Ltd Company owns 230,352 shares or 0.08% of their US portfolio. Blackrock Inv Management Limited Com, a New Jersey-based fund reported 309,208 shares. Thrivent Fincl For Lutherans owns 270,595 shares or 0.05% of their US portfolio. Kayne Anderson Rudnick Invest Mngmt Limited Liability Corporation reported 3.03M shares or 1.84% of all its holdings. Wellington Management Grp Llp has 1.16M shares for 0.01% of their US portfolio. Franklin Resources accumulated 410,814 shares or 0.01% of the stock. Vanguard Grp Inc Inc last reported 7.92M shares in the company. Moreover, State Common Retirement Fund has 0.01% invested in Aspen Technology, Inc. (NASDAQ:AZPN) for 239,061 shares. Stephens Ar holds 0.01% of its portfolio in Aspen Technology, Inc. (NASDAQ:AZPN) for 8,031 shares. Raymond James Assocs has 86,632 shares for 0.01% of their US portfolio. Nationwide Fund Advsr has invested 0.01% of its portfolio in Aspen Technology, Inc. (NASDAQ:AZPN). Diam Limited, a Japan-based fund reported 31,756 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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