Benzinga | Aug 13, 2020 10:42AM EDT

Why Aspen Technology's Stock Is Trading Higher Today

Aspen Technology (NASDAQ:AZPN) shares trading higher on Thursday after the company reported better-than-expected fourth-quarter EPS and sales results. The company also issued fiscal year 2020 EPS and sales guidance.

Aspen Technology is a leading global supplier of software solutions that optimize asset design, operations, and maintenance in complex industrial environments. The company's AspenOne software platform helps improve process-oriented plant efficiency, and thereby lower capital intensity, increase working capital efficiency, and improve margins. Aspen was founded in 1981 and serves more than 2,300 customers in 32 countries.

Aspen Technology shares were trading up 31.33% at $128.32 on Thursday during the time of publication. The stock has a 52-week high of $142.89 and a 52-week low of $73.07.