Aspen Technology Receives a Hold from Canaccord Genuity

By Jason Carr

In a report released yesterday, David Hynes from Canaccord Genuity reiterated a Hold rating on Aspen Technology (NASDAQ: AZPN), with a price target of $46. The company’s shares opened today at $49.25, close to its 52-week high of $49.50.

According to TipRanks.com, Hynes is a top 100 analyst with an average return of 28.2% and a 72.6% success rate. Hynes covers the Technology sector, focusing on stocks such as Nuance Communications, Ultimate Software, and Top Image Systems.

Aspen Technology has an analyst consensus of Moderate Buy, with a price target consensus of $48.

Aspen Technology’s market cap is currently $3.75B and has a P/E ratio of 27.69. The company has a book value ratio of -49.9979.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.

Aspen Technology, Inc. engages in the provision of mission-critical process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. Its aspenONE software and related services was developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries. It operates through the Subscription and Software, and Services segments. The Subscription and Software segment provides licensing of process optimization software solutions and associated support services. The Services segment offers professional services and training. The company was founded by Lawrence B. Evans in 1981 and is headquartered in Bedford, MA.