Equities research analysts forecast that Aspen Technology, Inc. (NASDAQ:AZPN) will report sales of $120.42 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Aspen Technology’s earnings, with the lowest sales estimate coming in at $116.60 million and the highest estimate coming in at $124.40 million. Aspen Technology posted sales of $124.90 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.6%. The business is expected to report its next earnings report on Wednesday, January 23rd.
On average, analysts expect that Aspen Technology will report full year sales of $556.42 million for the current year, with estimates ranging from $552.70 million to $563.30 million. For the next financial year, analysts expect that the company will report sales of $581.63 million, with estimates ranging from $542.60 million to $600.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Aspen Technology.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Wednesday, October 24th. The technology company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.12. Aspen Technology had a net margin of 30.96% and a negative return on equity of 168.12%. The company had revenue of $114.17 million during the quarter, compared to analysts’ expectations of $113.49 million.
Several research firms have recently commented on AZPN. BidaskClub upgraded shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 7th. Robert W. Baird upped their price objective on shares of Aspen Technology from $90.00 to $114.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Zacks Investment Research raised shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Tuesday, August 14th. KeyCorp increased their price target on Aspen Technology from $100.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, August 9th. Finally, Canaccord Genuity raised their price objective on shares of Aspen Technology from $84.00 to $100.00 and gave the stock a “hold” rating in a research note on Friday, August 17th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Aspen Technology currently has a consensus rating of “Hold” and an average price target of $102.00.
Shares of NASDAQ AZPN traded up $0.55 during trading on Tuesday, reaching $86.30. 719,556 shares of the stock were exchanged, compared to its average volume of 587,353. Aspen Technology has a twelve month low of $65.03 and a twelve month high of $118.86. The stock has a market cap of $6.11 billion, a P/E ratio of 41.89, a PEG ratio of 1.70 and a beta of 1.52.
In related news, CEO Antonio J. Pietri sold 7,095 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $77.49, for a total value of $549,791.55. Following the sale, the chief executive officer now owns 251,780 shares in the company, valued at approximately $19,510,432.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karl E. Johnsen sold 2,387 shares of the stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $80.69, for a total value of $192,607.03. Following the sale, the insider now owns 35,058 shares in the company, valued at $2,828,830.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,582 shares of company stock worth $750,274. Corporate insiders own 0.90% of the company’s stock.
Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Aspen Technology by 5.5% in the third quarter. Vanguard Group Inc. now owns 6,996,441 shares of the technology company’s stock worth $796,965,000 after purchasing an additional 362,193 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Aspen Technology by 3.6% during the 3rd quarter. Renaissance Technologies LLC now owns 4,002,003 shares of the technology company’s stock worth $455,868,000 after purchasing an additional 139,203 shares during the last quarter. BlackRock Inc. raised its position in shares of Aspen Technology by 1.5% during the 3rd quarter. BlackRock Inc. now owns 3,650,823 shares of the technology company’s stock worth $415,866,000 after purchasing an additional 55,132 shares during the last quarter. FMR LLC grew its stake in Aspen Technology by 12.8% during the 2nd quarter. FMR LLC now owns 2,208,130 shares of the technology company’s stock valued at $204,782,000 after acquiring an additional 250,691 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Aspen Technology by 23.1% during the 3rd quarter. William Blair Investment Management LLC now owns 1,208,072 shares of the technology company’s stock worth $137,611,000 after purchasing an additional 226,796 shares during the period. 97.30% of the stock is currently owned by institutional investors and hedge funds.
About Aspen Technology
Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.
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