Wall Street analysts predict that Aspen Technology, Inc. (NASDAQ:AZPN) will post sales of $121.87 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Aspen Technology’s earnings. The highest sales estimate is $123.00 million and the lowest is $121.11 million. Aspen Technology posted sales of $119.93 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.6%. The business is scheduled to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Aspen Technology will report full year sales of $121.87 million for the current financial year, with estimates ranging from $490.80 million to $496.70 million. For the next fiscal year, analysts forecast that the company will post sales of $521.34 million per share, with estimates ranging from $515.70 million to $531.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Aspen Technology.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. Aspen Technology had a negative return on equity of 66.74% and a net margin of 33.35%. The firm had revenue of $122.80 million during the quarter, compared to analysts’ expectations of $121.73 million. During the same period in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year.
AZPN has been the subject of several analyst reports. Berenberg Bank initiated coverage on Aspen Technology in a report on Wednesday, August 23rd. They set a “buy” rating and a $70.00 target price for the company. Zacks Investment Research cut Aspen Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Robert W. Baird set a $63.00 target price on Aspen Technology and gave the company a “hold” rating in a report on Friday, October 6th. Bank of America initiated coverage on Aspen Technology in a report on Monday, November 6th. They set a “neutral” rating and a $67.00 target price for the company. Finally, BidaskClub upgraded Aspen Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Aspen Technology has a consensus rating of “Hold” and an average target price of $63.63.
In other Aspen Technology news, Director Jr. Robert M. Whelan sold 10,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $66.01, for a total value of $660,100.00. Following the completion of the sale, the director now owns 25,559 shares in the company, valued at approximately $1,687,149.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Karl E. Johnsen sold 2,619 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $64.41, for a total value of $168,689.79. Following the completion of the sale, the insider now owns 40,063 shares of the company’s stock, valued at approximately $2,580,457.83. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,197 shares of company stock valued at $931,360. Company insiders own 0.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Koch Industries Inc. raised its position in shares of Aspen Technology by 8,875.5% in the 2nd quarter. Koch Industries Inc. now owns 1,184,948 shares of the technology company’s stock worth $1,164,000 after acquiring an additional 1,171,746 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Aspen Technology by 15.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,984,783 shares of the technology company’s stock worth $250,285,000 after acquiring an additional 543,592 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Aspen Technology by 20.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,360,500 shares of the technology company’s stock worth $130,441,000 after acquiring an additional 408,200 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its position in shares of Aspen Technology by 304.8% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 416,171 shares of the technology company’s stock worth $22,997,000 after acquiring an additional 313,372 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Aspen Technology by 22.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,609,712 shares of the technology company’s stock worth $98,450,000 after acquiring an additional 297,400 shares in the last quarter.
Shares of Aspen Technology (AZPN) opened at $66.57 on Wednesday. The firm has a market capitalization of $4,834.49, a PE ratio of 31.00 and a beta of 1.23. Aspen Technology has a fifty-two week low of $52.23 and a fifty-two week high of $69.38.
About Aspen Technology
Aspen Technology, Inc is a global provider of process optimization software solutions 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.
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