Equities research analysts forecast that Aspen Technology, Inc. (NASDAQ:AZPN) will announce $0.48 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Aspen Technology’s earnings, with estimates ranging from $0.47 to $0.51. Aspen Technology reported earnings of $0.49 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 2%. The company is expected to report its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Aspen Technology will report full-year earnings of $2.00 per share for the current year, with EPS estimates ranging from $1.91 to $2.16. For the next year, analysts anticipate that the firm will report earnings of $2.25 per share, with EPS estimates ranging from $2.08 to $2.60. Zacks’ EPS averages are an average based on a survey of analysts that follow Aspen Technology.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.29. Aspen Technology had a net margin of 33.58% and a negative return on equity of 73.17%. The business had revenue of $123.68 million for the quarter, compared to analysts’ expectations of $119.55 million. During the same period last year, the business earned $0.44 EPS. The company’s revenue was up 8.8% compared to the same quarter last year.
A number of analysts recently weighed in on AZPN shares. Robert W. Baird set a $63.00 target price on shares of Aspen Technology and gave the stock a “hold” rating in a research note on Friday, October 6th. Berenberg Bank started coverage on shares of Aspen Technology in a research note on Wednesday, August 23rd. They set a “buy” rating and a $70.00 target price on the stock. Zacks Investment Research upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub lowered shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Canaccord Genuity restated a “hold” rating on shares of Aspen Technology in a research note on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $61.50.
In related news, VP F G. Hammond sold 3,388 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $60.60, for a total transaction of $205,312.80. Following the sale, the vice president now directly owns 20,733 shares in the company, valued at $1,256,419.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Karl E. Johnsen sold 1,969 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $59.14, for a total value of $116,446.66. Following the completion of the transaction, the insider now directly owns 28,530 shares of the company’s stock, valued at $1,687,264.20. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its holdings in Aspen Technology by 0.7% in the second quarter. Amalgamated Bank now owns 9,635 shares of the technology company’s stock valued at $532,000 after purchasing an additional 69 shares in the last quarter. NGAM Advisors L.P. boosted its holdings in Aspen Technology by 0.7% in the second quarter. NGAM Advisors L.P. now owns 14,673 shares of the technology company’s stock valued at $811,000 after purchasing an additional 101 shares in the last quarter. Renaissance Group LLC boosted its holdings in Aspen Technology by 2.5% in the second quarter. Renaissance Group LLC now owns 5,871 shares of the technology company’s stock valued at $324,000 after purchasing an additional 145 shares in the last quarter. M&T Bank Corp boosted its holdings in Aspen Technology by 2.8% in the second quarter. M&T Bank Corp now owns 5,834 shares of the technology company’s stock valued at $322,000 after purchasing an additional 159 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Aspen Technology by 1.1% in the second quarter. Quantbot Technologies LP now owns 20,663 shares of the technology company’s stock valued at $1,141,000 after purchasing an additional 217 shares in the last quarter.
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Aspen Technology (NASDAQ:AZPN) traded up 0.74% during mid-day trading on Friday, hitting $65.05. 230,324 shares of the stock were exchanged. The firm has a market cap of $4.76 billion, a P/E ratio of 30.83 and a beta of 1.24. Aspen Technology has a 12-month low of $46.21 and a 12-month high of $65.23. The company has a 50 day moving average of $63.38 and a 200 day moving average of $59.53.
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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