Aspen Technology (AZPN) is Resumed by JP Morgan to Underweight, Price Target at $36

Aspen Technology (AZPN) was Resumed by JP Morgan to “Underweight” and the brokerage firm has set the Price Target at $36. JP Morgan advised their investors in a research report released on Apr 29, 2016.

On the company’s financial health, Aspen Technology reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.39. The company had revenue of $119.15 million for the quarter, compared to analysts expectations of $112.28 million. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Aspen Technology opened for trading at $37.6 and hit $38.22 on the upside on Wednesday, eventually ending the session at $38.21, with a gain of 1.41% or 0.53 points. The heightened volatility saw the trading volume jump to 6,32,148 shares. Company has a market cap of $3,186 M.

In a different news, on Aug 26, 2015, Mark P. Sullivan (Executive VP & CFO) sold 7,812 shares at $36.89 per share price. According to the SEC, on Jun 4, 2015, F G Hammond (Senior VP & General Counsel) sold 2,442 shares at $43.50 per share price. On Jun 4, 2015, Antonio J Pietri (President & CEO) sold 1,068 shares at $43.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Aspen Technology Inc. is a global provider of process optimization software solutions which are 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 Company has developed its applications to design and optimize processes across three principal business areas: engineering manufacturing and supply chain. The Company has three operating segments: license; software maintenance and support (SMS) training and other and professional services. The Company provides integrated process optimization software solutions designed and developed specifically for the process industries.

Aspen Technology

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