Aspen Technology, Inc. Buyback
OLI recorded this information on 8/30/2016
Company:
Aspen Technology, Inc.
Buyback:
AZPN buyback
$Amount Authorized:
$100,000,000
Buyback Details:
Aspen Technology, Inc. (NASDAQ:AZPN), a leading provider of software and services to the process industries, today announced that it has entered into an accelerated share repurchase ("ASR") agreement with J.P. Morgan Securities LLC, as agent for JPMorgan Chase Bank, National Association, London Branch ("JPMorgan") to repurchase $100 million of AspenTech common stock.
Aspen Technology provides asset optimization software for industrial environments. Co.'s aspenONE solutions are organized into three suites: engineering; manufacturing and supply chain; and asset performance management (APM). Co.'s engineering software is used to develop process designs of new plants, re-vamp existing plants, and simulate and optimize existing processes. Co.'s manufacturing software is used to optimize day-to-day processing activities. Co.'s supply chain management software enables process manufacturers to reduce inventory levels, respond to market demands and optimize supply chain operations. Co.'s APM software is used to understand and predict the reliability of a system.
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Avg. Broker Rec.
 
|
Buy (3.33 out of 4) 38th percentile
(ranked lower than approx. 62% of all stocks covered)
Analysts' Target Price: AZPN Stock Forecast Based on Zacks ABR data; powered by Xignite |
