$121.51 Million in Sales Expected for Aspen Technology (AZPN) This Quarter

Brokerages expect Aspen Technology (NASDAQ:AZPN) to post $121.51 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Aspen Technology’s earnings. The highest sales estimate is $122.00 million and the lowest is $121.02 million. Aspen Technology reported sales of $119.28 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.9%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, April 25th.

On average, analysts expect that Aspen Technology will report full year sales of $494.57 million for the current year, with estimates ranging from $492.09 million to $498.20 million. For the next year, analysts expect that the firm will report sales of $522.70 million per share, with estimates ranging from $517.15 million to $531.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Aspen Technology.

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Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.09. Aspen Technology had a net margin of 33.23% and a negative return on equity of 61.97%. The company had revenue of $124.90 million during the quarter, compared to analysts’ expectations of $121.81 million. During the same period in the prior year, the company earned $0.52 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year.

AZPN has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. KeyCorp reaffirmed a “buy” rating and set a $83.00 price objective (up previously from $73.00) on shares of Aspen Technology in a research report on Monday, January 8th. BidaskClub raised shares of Aspen Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Berenberg Bank reissued a “buy” rating and issued a $88.00 price target (up previously from $77.00) on shares of Aspen Technology in a research report on Thursday, January 25th. Finally, Robert W. Baird reissued a “hold” rating on shares of Aspen Technology in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $75.67.

In other news, CEO Antonio J. Pietri sold 26,900 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $76.56, for a total transaction of $2,059,464.00. Following the completion of the sale, the chief executive officer now owns 250,416 shares of the company’s stock, valued at $19,171,848.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jr. Robert M. Whelan sold 2,172 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $72.28, for a total transaction of $156,992.16. Following 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. In the last ninety days, insiders have sold 52,308 shares of company stock valued at $3,929,379. Company insiders own 0.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its holdings in shares of Aspen Technology by 4.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 24,734 shares of the technology company’s stock worth $1,637,000 after buying an additional 962 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Aspen Technology by 35.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,492 shares of the technology company’s stock worth $297,000 after buying an additional 1,180 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Aspen Technology by 15.6% during the fourth quarter. M&T Bank Corp now owns 8,727 shares of the technology company’s stock worth $578,000 after buying an additional 1,180 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Aspen Technology by 12.6% during the fourth quarter. Synovus Financial Corp now owns 12,068 shares of the technology company’s stock worth $804,000 after buying an additional 1,347 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Aspen Technology by 16.0% during the fourth quarter. Allianz Asset Management GmbH now owns 10,790 shares of the technology company’s stock worth $714,000 after buying an additional 1,490 shares in the last quarter.

AZPN stock opened at $85.84 on Friday. Aspen Technology has a 52-week low of $53.51 and a 52-week high of $88.33. The stock has a market cap of $6,324.87, a price-to-earnings ratio of 40.68, a PEG ratio of 4.25 and a beta of 1.21.

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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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