Equities analysts expect Aspen Technology, Inc. (NASDAQ:AZPN) to announce sales of $121.90 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Aspen Technology’s earnings, with the lowest sales estimate coming in at $121.20 million and the highest estimate coming in at $123.50 million. Aspen Technology reported sales of $120.05 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.5%. The business is scheduled to announce its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Aspen Technology will report full-year sales of $121.90 million for the current year, with estimates ranging from $489.90 million to $498.00 million. For the next year, analysts expect that the business will report sales of $521.49 million per share, with estimates ranging from $515.40 million to $531.60 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Aspen Technology.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Thursday, August 10th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.29. The firm had revenue of $123.68 million for the quarter, compared to the consensus estimate of $119.55 million. Aspen Technology had a net margin of 33.58% and a negative return on equity of 73.17%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share.
AZPN has been the subject of a number of recent analyst reports. Canaccord Genuity reaffirmed a “hold” rating and set a $60.00 target price on shares of Aspen Technology in a report on Friday, June 9th. Zacks Investment Research lowered Aspen Technology from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Wedbush reaffirmed a “neutral” rating and set a $59.00 target price on shares of Aspen Technology in a report on Wednesday, June 28th. BidaskClub lowered Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, 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. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $61.75.
Shares of Aspen Technology (AZPN) traded up 0.77% during midday trading on Wednesday, reaching $63.94. 273,840 shares of the company’s stock were exchanged. Aspen Technology has a 12 month low of $45.47 and a 12 month high of $64.87. The firm has a 50 day moving average price of $60.80 and a 200 day moving average price of $58.89. The company has a market cap of $4.67 billion, a P/E ratio of 30.30 and a beta of 1.26.
In other news, VP F G. Hammond sold 3,388 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $60.60, for a total transaction of $205,312.80. Following the completion of the transaction, the vice president now owns 20,733 shares of the company’s stock, valued at $1,256,419.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karl E. Johnsen sold 1,969 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $59.14, for a total value of $116,446.66. Following the transaction, the insider now directly owns 28,530 shares of the company’s stock, valued at approximately $1,687,264.20. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Aspen Technology by 1.6% during the first quarter. Vanguard Group Inc. now owns 7,635,099 shares of the technology company’s stock worth $449,861,000 after purchasing an additional 120,504 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Aspen Technology by 46,846.9% during the first quarter. BlackRock Inc. now owns 5,503,112 shares of the technology company’s stock worth $324,242,000 after purchasing an additional 5,491,390 shares in the last quarter. FMR LLC grew its holdings in shares of Aspen Technology by 48.5% during the first quarter. FMR LLC now owns 4,206,339 shares of the technology company’s stock worth $247,837,000 after purchasing an additional 1,374,200 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Aspen Technology by 4.8% during the first quarter. Neuberger Berman Group LLC now owns 3,501,290 shares of the technology company’s stock worth $206,296,000 after purchasing an additional 160,253 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of Aspen Technology by 3.2% during the first quarter. Clearbridge Investments LLC now owns 2,573,161 shares of the technology company’s stock worth $151,611,000 after purchasing an additional 79,189 shares in the last quarter.
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Aspen Technology Company Profile
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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