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Wall Street brokerages predict that Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) will post $262.07 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Aspen Technology’s earnings, with the lowest sales estimate coming in at $238.70 million and the highest estimate coming in at $294.70 million. Aspen Technology posted sales of $197.96 million in the same quarter last year, which would indicate a positive year over year growth rate of 32.4%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Aspen Technology will report full year sales of $761.18 million for the current year, with estimates ranging from $745.80 million to $789.80 million. For the next fiscal year, analysts expect that the company will report sales of $903.82 million, with estimates ranging from $770.75 million to $1.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Aspen Technology.
Aspen Technology (NASDAQ:AZPN – Get Rating) last announced its earnings results on Wednesday, April 27th. The technology company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The company had revenue of $187.75 million during the quarter, compared to analysts’ expectations of $190.61 million. Aspen Technology had a net margin of 39.22% and a return on equity of 40.86%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share.
A number of equities analysts have issued reports on AZPN shares. Piper Sandler cut their target price on shares of Aspen Technology from $170.00 to $159.00 and set a “neutral” rating for the company in a research report on Tuesday, May 17th. Loop Capital upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and lifted their price target for the stock from $160.00 to $175.00 in a report on Thursday, March 17th. StockNews.com started coverage on shares of Aspen Technology in a report on Saturday. They set a “buy” rating for the company. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Monday, May 2nd. Finally, TheStreet downgraded shares of Aspen Technology from a “b” rating to a “c+” rating in a report on Tuesday, May 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $167.00.
In related news, Director Jr. Robert M. Whelan sold 4,010 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $159.07, for a total value of $637,870.70. Following the completion of the sale, the director now directly owns 12,865 shares in the company, valued at $2,046,435.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in AZPN. First Horizon Advisors Inc. lifted its position in Aspen Technology by 956.3% during the fourth quarter. First Horizon Advisors Inc. now owns 169 shares of the technology company’s stock valued at $25,000 after buying an additional 153 shares in the last quarter. Confluence Wealth Services Inc. acquired a new position in Aspen Technology during the fourth quarter valued at approximately $28,000. Parallel Advisors LLC lifted its position in Aspen Technology by 97.2% during the fourth quarter. Parallel Advisors LLC now owns 213 shares of the technology company’s stock valued at $32,000 after buying an additional 105 shares in the last quarter. JFS Wealth Advisors LLC acquired a new position in Aspen Technology during the fourth quarter valued at approximately $33,000. Finally, National Bank of Canada FI acquired a new position in Aspen Technology during the fourth quarter valued at approximately $34,000. 96.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AZPN opened at $201.70 on Monday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.33. The stock has a market cap of $13.08 billion, a P/E ratio of 50.30, a PEG ratio of 5.00 and a beta of 1.25. The company has a 50-day moving average of $170.94 and a two-hundred day moving average of $155.57. Aspen Technology has a 12-month low of $122.29 and a 12-month high of $203.75.
Aspen Technology Company Profile (Get Rating)
Aspen Technology, Inc, together with its subsidiaries, provides asset optimization solutions in North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company operates in two segments, Subscription and Software, and Services and Other. It offers asset optimization software that optimizes asset design, operations, and maintenance in various industrial environments.
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