Brokerages Expect Aspen Technology, Inc. (AZPN) to Post $0.48 Earnings Per Share
Equities research analysts expect that Aspen Technology, Inc. (NASDAQ:AZPN) will post $0.48 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Aspen Technology’s earnings, with estimates ranging from $0.47 to $0.51. Aspen Technology posted earnings per share of $0.49 in the same quarter last year, which would suggest a negative year-over-year growth rate of 2%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Aspen Technology will report full year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.91 to $2.16. For the next year, analysts expect that the firm will post earnings of $2.25 per share, with EPS estimates ranging from $2.08 to $2.60. Zacks’ earnings per share averages are an average based on a survey of research firms 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 for the quarter, beating the consensus estimate 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 firm had revenue of $123.68 million for the quarter, compared to analyst estimates of $119.55 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year.
Several research analysts have issued reports on AZPN shares. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Friday, May 5th. Wedbush reiterated a “neutral” rating and set a $59.00 target price on shares of Aspen Technology in a report on Wednesday, June 28th. Robert W. Baird reiterated an “outperform” rating and set a $65.00 target price on shares of Aspen Technology in a report on Thursday, May 11th. Benchmark Co. reiterated a “hold” rating and set a $55.00 target price (up from $48.00) on shares of Aspen Technology in a report on Wednesday, May 3rd. Finally, Canaccord Genuity reiterated a “hold” rating and set a $60.00 target price on shares of Aspen Technology in a report on Friday, June 9th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $61.75.
Aspen Technology (NASDAQ AZPN) opened at 62.70 on Thursday. The stock’s 50 day moving average is $57.70 and its 200 day moving average is $58.17. Aspen Technology has a one year low of $44.60 and a one year high of $64.34. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 29.72 and a beta of 1.28.
In related news, VP F G. Hammond sold 3,388 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $60.60, for a total value of $205,312.80. Following the completion of the transaction, the vice president now directly owns 20,733 shares of the company’s stock, valued at approximately $1,256,419.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl E. Johnsen sold 1,969 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $59.14, for a total transaction 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. Company insiders own 0.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. TrimTabs Asset Management LLC raised its position in Aspen Technology by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 2,262 shares of the technology company’s stock worth $133,000 after buying an additional 1,064 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new position in Aspen Technology during the second quarter worth about $138,000. Pacad Investment Ltd. acquired a new position in Aspen Technology during the second quarter worth about $166,000. Advisor Group Inc. raised its position in Aspen Technology by 69.9% in the second quarter. Advisor Group Inc. now owns 3,149 shares of the technology company’s stock worth $173,000 after buying an additional 1,296 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Aspen Technology by 12.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,312 shares of the technology company’s stock worth $183,000 after buying an additional 357 shares in the last quarter.
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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