Noteworthy Price Action: After Reaching 52-Week High, Is Aspen Technology, Inc.’s Near-Term Analysis Positive?

Noteworthy Price Action: After Reaching 52 Week High, Is Aspen Technology, Inc.'s Near Term Analysis Positive?

The stock of Aspen Technology, Inc. (NASDAQ:AZPN) hit a new 52-week high and has $56.74 target or 7.00% above today’s $53.03 share price. The 7 months bullish chart indicates low risk for the $4.14B company. The 1-year high was reported on Nov, 28 by If the $56.74 price target is reached, the company will be worth $289.80M 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 189,363 shares traded hands. Aspen Technology, Inc. (NASDAQ:AZPN) has risen 41.68% since April 25, 2016 and is uptrending. It has outperformed by 35.67% the S&P500.

Analysts await Aspen Technology, Inc. (NASDAQ:AZPN) to report earnings on January, 26. They expect $0.43 earnings per share, down 4.44% or $0.02 from last year’s $0.45 per share. AZPN’s profit will be $33.57 million for 30.83 P/E if the $0.43 EPS becomes a reality. After $0.44 actual earnings per share reported by Aspen Technology, Inc. for the previous quarter, Wall Street now forecasts -2.27% 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 -30.61% below today’s ($53.03) stock price. Aspen Technology has been the topic of 10 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Avondale downgraded the shares of AZPN in a report on Friday, August 12 to “Underperform” rating. JP Morgan reinitiated Aspen Technology, Inc. (NASDAQ:AZPN) on Friday, April 29 with “Underweight” rating. The stock has “Hold” rating given by Benchmark on Tuesday, April 26. The stock of Aspen Technology, Inc. (NASDAQ:AZPN) has “Buy” rating given on Saturday, August 15 by TheStreet. On Friday, January 29 the stock rating was maintained by Canaccord Genuity with “Hold”. The firm has “Hold” rating by Benchmark given on Wednesday, January 13. The firm earned “Market Perform” rating on Tuesday, February 9 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 Q2 2016. 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.
Dupont Management, a Delaware-based fund reported 260,162 shares. Shamrock Asset Mgmt Ltd holds 0.01% of its portfolio in Aspen Technology, Inc. (NASDAQ:AZPN) for 470 shares. Goldman Sachs Group last reported 0.01% of its portfolio in the stock. Wells Fargo & Company Mn owns 887,931 shares or 0.01% of their US portfolio. Nicholas Invest Prtnrs Limited Partnership accumulated 0.6% or 213,696 shares. Schwab Charles Mgmt Inc has 0.02% invested in the company for 395,624 shares. Parametric Port Associates Ltd Liability Corp holds 0.01% or 160,934 shares in its portfolio. Loomis Sayles Commerce Limited Partnership accumulated 0% or 322 shares. Blackrock Management Limited Liability Co has 309,208 shares for 0.02% of their US portfolio. Ubs Asset Management Americas has invested 0% of its portfolio in Aspen Technology, Inc. (NASDAQ:AZPN). Moreover, Geode Mngmt Limited Liability Corp has 0.02% invested in Aspen Technology, Inc. (NASDAQ:AZPN) for 701,058 shares. Janus Cap Mngmt Limited Liability Corp last reported 0.04% of its portfolio in the stock. Virginia Retirement Et Al reported 40,200 shares or 0.02% of all its holdings. Blackrock Limited holds 0% of its portfolio in Aspen Technology, Inc. (NASDAQ:AZPN) for 111,743 shares. The Minnesota-based Ameriprise Financial has invested 0.01% in Aspen Technology, Inc. (NASDAQ:AZPN).

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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