Brokerages Expect Aspen Technology, Inc. (NASDAQ:AZPN) Will Post Quarterly Sales of $206.15 Million


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Wall Street analysts expect Aspen Technology, Inc. (NASDAQ:AZPN) to post sales of $206.15 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Aspen Technology’s earnings, with the highest sales estimate coming in at $209.22 million and the lowest estimate coming in at $204.32 million. Aspen Technology posted sales of $199.33 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The company is scheduled to announce its next earnings report on Wednesday, August 11th.

According to Zacks, analysts expect that Aspen Technology will report full-year sales of $717.56 million for the current financial year, with estimates ranging from $715.74 million to $720.64 million. For the next financial year, analysts anticipate that the company will report sales of $700.52 million, with estimates ranging from $681.70 million to $713.75 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Aspen Technology.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Tuesday, April 27th. The technology company reported $1.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.06). Aspen Technology had a net margin of 37.15% and a return on equity of 49.40%. The company had revenue of $162.80 million during the quarter, compared to analyst estimates of $178.37 million. During the same quarter last year, the business earned $0.74 EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis.

A number of equities research analysts have recently commented on AZPN shares. Robert W. Baird upgraded shares of Aspen Technology from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $135.00 to $165.00 in a report on Wednesday, February 3rd. KeyCorp lifted their price target on shares of Aspen Technology from $158.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, February 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Aspen Technology currently has a consensus rating of “Hold” and an average price target of $148.83.

Shares of NASDAQ AZPN opened at $128.41 on Wednesday. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $148.15 and a 200 day moving average price of $139.78. Aspen Technology has a 52 week low of $91.15 and a 52 week high of $162.56. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 38.91, a price-to-earnings-growth ratio of 1.94 and a beta of 1.38.

In other Aspen Technology news, EVP John Hague sold 3,488 shares of Aspen Technology stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $144.21, for a total transaction of $503,004.48. Following the transaction, the executive vice president now directly owns 20,636 shares of the company’s stock, valued at $2,975,917.56. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 4,590 shares of company stock worth $670,791. 1.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of AZPN. Norges Bank acquired a new position in shares of Aspen Technology during the fourth quarter worth $69,307,000. Bessemer Group Inc. raised its holdings in Aspen Technology by 17,582.8% in the fourth quarter. Bessemer Group Inc. now owns 512,271 shares of the technology company’s stock valued at $66,723,000 after acquiring an additional 509,374 shares in the last quarter. Nordea Investment Management AB raised its holdings in Aspen Technology by 26.9% in the fourth quarter. Nordea Investment Management AB now owns 1,027,746 shares of the technology company’s stock valued at $133,864,000 after acquiring an additional 217,821 shares in the last quarter. Ardevora Asset Management LLP raised its holdings in Aspen Technology by 78.8% in the fourth quarter. Ardevora Asset Management LLP now owns 470,077 shares of the technology company’s stock valued at $61,228,000 after acquiring an additional 207,200 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Aspen Technology by 25.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 799,292 shares of the technology company’s stock valued at $115,360,000 after acquiring an additional 162,678 shares in the last quarter. 96.73% of the stock is currently owned by institutional investors and hedge funds.

About Aspen Technology

Aspen Technology, Inc engages in the provision of asset optimization solutions. It develops its applications to design, and optimize processes across the engineering, manufacturing, supply chain, and asset performance management areas. The firm operates through the Subscription and Software, and Services and Other segments.

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Earnings History and Estimates for Aspen Technology (NASDAQ:AZPN)

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