Brokerages forecast that Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) will announce $249.00 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Aspen Technology’s earnings. The highest sales estimate is $253.08 million and the lowest is $238.70 million. Aspen Technology reported sales of $197.96 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.8%. The business is scheduled to issue its next earnings report on Monday, January 1st.
On average, analysts expect that Aspen Technology will report full-year sales of $745.78 million for the current fiscal year, with estimates ranging from $742.87 million to $747.95 million. For the next financial year, analysts expect that the company will report sales of $775.69 million, with estimates ranging from $748.31 million to $803.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Aspen Technology.
Aspen Technology (NASDAQ:AZPN – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. The firm had revenue of $187.75 million during the quarter, compared to the consensus estimate of $190.61 million. Aspen Technology had a return on equity of 40.86% and a net margin of 39.22%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share.
Several equities research analysts have recently commented on the company. StockNews.com upgraded Aspen Technology from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded 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, Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and upped their price target for the stock from $160.00 to $175.00 in a report on Thursday, March 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Aspen Technology currently has a consensus rating of “Buy” and a consensus price target of $168.57.
NASDAQ AZPN opened at $165.75 on Monday. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 41.33, a P/E/G ratio of 4.06 and a beta of 1.26. Aspen Technology has a 52 week low of $122.29 and a 52 week high of $170.16. The business has a 50 day moving average price of $156.97 and a 200-day moving average price of $151.76. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.33.
In other news, Director Jr. Robert M. Whelan sold 4,010 shares of the firm’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $159.07, for a total transaction of $637,870.70. Following the completion of the sale, the director now directly owns 12,865 shares of the company’s stock, valued at approximately $2,046,435.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC raised its position in Aspen Technology by 0.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,787,722 shares of the technology company’s stock worth $833,533,000 after acquiring an additional 33,159 shares during the period. BlackRock Inc. raised its position in Aspen Technology by 6.5% in the first quarter. BlackRock Inc. now owns 6,645,133 shares of the technology company’s stock worth $1,098,905,000 after acquiring an additional 407,220 shares during the period. Vanguard Group Inc. raised its position in Aspen Technology by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,336,062 shares of the technology company’s stock worth $1,047,795,000 after acquiring an additional 51,393 shares during the period. Standard Investments LLC raised its position in Aspen Technology by 22.2% in the fourth quarter. Standard Investments LLC now owns 2,439,000 shares of the technology company’s stock worth $371,216,000 after acquiring an additional 443,000 shares during the period. Finally, Nordea Investment Management AB raised its position in Aspen Technology by 2.2% in the fourth quarter. Nordea Investment Management AB now owns 2,304,011 shares of the technology company’s stock worth $351,892,000 after acquiring an additional 49,848 shares during the period. 96.49% of the stock is currently owned by institutional investors and hedge funds.
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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