Equities analysts expect Aspen Technology (NASDAQ:AZPN) to announce $125.52 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Aspen Technology’s earnings, with the lowest sales estimate coming in at $124.72 million and the highest estimate coming in at $128.00 million. Aspen Technology posted sales of $123.68 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.5%. The business is expected to issue its next earnings report on Thursday, August 9th.
On average, analysts expect that Aspen Technology will report full year sales of $498.96 million for the current financial year, with estimates ranging from $498.00 million to $501.60 million. For the next fiscal year, analysts forecast that the company will post sales of $526.71 million per share, with estimates ranging from $523.00 million to $534.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Aspen Technology.
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Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings data on Wednesday, April 25th. The technology company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. Aspen Technology had a net margin of 33.19% and a negative return on equity of 61.04%. The company had revenue of $125.87 million during the quarter, compared to analyst estimates of $121.94 million. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis.
Several equities analysts have recently weighed in on the stock. ValuEngine upgraded shares of Aspen Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 3rd. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research report on Tuesday, May 1st. KeyCorp raised their price objective on shares of Aspen Technology from $88.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, April 26th. Wedbush raised their price objective on shares of Aspen Technology from $74.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, April 26th. Finally, Berenberg Bank raised their price objective on shares of Aspen Technology to $98.00 and gave the company a “buy” rating in a research report on Thursday, April 26th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $83.88.
Shares of Aspen Technology traded down $0.82, hitting $93.59, during trading hours on Friday, Marketbeat Ratings reports. 566,930 shares of the company’s stock traded hands, compared to its average volume of 397,476. Aspen Technology has a 52 week low of $53.51 and a 52 week high of $95.89. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 44.36, a price-to-earnings-growth ratio of 4.53 and a beta of 1.21.
In other Aspen Technology news, VP F G. Hammond sold 16,024 shares of the company’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $88.00, for a total transaction of $1,410,112.00. Following the completion of the sale, the vice president now directly owns 29,113 shares of the company’s stock, valued at $2,561,944. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Karl E. Johnsen sold 7,559 shares of the company’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $89.17, for a total transaction of $674,036.03. The disclosure for this sale can be found here. Insiders have sold 25,183 shares of company stock valued at $2,225,566 over the last ninety days. Insiders own 0.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its position in shares of Aspen Technology by 108.0% in the first quarter. Allianz Asset Management GmbH now owns 22,440 shares of the technology company’s stock worth $1,770,000 after purchasing an additional 11,650 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Aspen Technology in the first quarter worth approximately $1,003,000. Xact Kapitalforvaltning AB lifted its position in shares of Aspen Technology by 42.9% in the first quarter. Xact Kapitalforvaltning AB now owns 8,995 shares of the technology company’s stock worth $710,000 after purchasing an additional 2,700 shares in the last quarter. Alkeon Capital Management LLC lifted its position in shares of Aspen Technology by 6.4% in the first quarter. Alkeon Capital Management LLC now owns 626,894 shares of the technology company’s stock worth $49,455,000 after purchasing an additional 37,500 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Aspen Technology in the first quarter worth approximately $393,000. 99.99% of the stock is owned by institutional investors and hedge funds.
About Aspen Technology
Aspen Technology, Inc, together with its subsidiaries, provides software and services in the United States, Europe, and internationally. It 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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