Aspen Technology, Inc. Forecasted to Post FY2020 Earnings of $2.56 Per Share (AZPN)

Aspen Technology, Inc. (NASDAQ:AZPN) – Analysts at William Blair issued their FY2020 earnings estimates for Aspen Technology in a research report issued on Wednesday, according to Zacks Investment Research. William Blair analyst M. Pfau anticipates that the technology company will post earnings per share of $2.56 for the year.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.09. The business had revenue of $124.90 million for the quarter, compared to analyst estimates of $121.81 million. Aspen Technology had a net margin of 33.23% and a negative return on equity of 61.97%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS.

AZPN has been the topic of several other reports. Zacks Investment Research lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Berenberg Bank reiterated a “buy” rating and set a $88.00 price objective (up from $77.00) on shares of Aspen Technology in a report on Thursday, January 25th. Wedbush reissued a “neutral” rating and set a $74.00 target price (up previously from $65.00) on shares of Aspen Technology in a research report on Thursday, January 25th. Bank of America started coverage on shares of Aspen Technology in a research report on Monday, November 6th. They set a “neutral” rating and a $67.00 target price for the company. Finally, BidaskClub downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.67.

Shares of Aspen Technology (NASDAQ:AZPN) traded up $2.22 during mid-day trading on Monday, hitting $75.25. 1,244,800 shares of the stock traded hands, compared to its average volume of 461,750. The stock has a market cap of $5,420.00, a price-to-earnings ratio of 34.36, a P/E/G ratio of 21.81 and a beta of 1.29. Aspen Technology has a 1-year low of $53.51 and a 1-year high of $84.40.

A number of large investors have recently modified their holdings of the business. Amalgamated Bank grew its position 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 acquiring an additional 69 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Aspen Technology by 2.8% during the 2nd quarter. M&T Bank Corp now owns 5,834 shares of the technology company’s stock valued at $322,000 after buying an additional 159 shares during the last quarter. QS Investors LLC boosted its stake in shares of Aspen Technology by 0.4% during the 2nd quarter. QS Investors LLC now owns 81,019 shares of the technology company’s stock valued at $4,477,000 after buying an additional 288 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Aspen Technology by 0.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 51,326 shares of the technology company’s stock valued at $2,836,000 after buying an additional 293 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Aspen Technology by 0.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 92,443 shares of the technology company’s stock valued at $5,108,000 after buying an additional 807 shares during the last quarter.

In other Aspen Technology news, insider Karl E. Johnsen sold 2,304 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $75.00, for a total value of $172,800.00. Following the completion of the sale, the insider now owns 36,180 shares of the company’s stock, valued at $2,713,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jr. Robert M. Whelan sold 2,172 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $72.28, for a total transaction of $156,992.16. Following the completion of the sale, the director now directly owns 15,159 shares of the company’s stock, valued at approximately $1,095,692.52. The disclosure for this sale can be found here. Insiders sold 19,116 shares of company stock valued at $1,407,642 in the last ninety days. 0.60% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION WARNING: “Aspen Technology, Inc. Forecasted to Post FY2020 Earnings of $2.56 Per Share (AZPN)” was originally reported by Week Herald and is the sole property of of Week Herald. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://weekherald.com/2018/02/15/aspen-technology-inc-to-post-fy2020-earnings-of-2-56-per-share-william-blair-forecasts-azpn.html.

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.

Get a free copy of the Zacks research report on Aspen Technology (AZPN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Aspen Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply