Aspen Technology, Inc. (NASDAQ:AZPN) Expected to Announce Earnings of $1.08 Per Share

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Equities research analysts expect that Aspen Technology, Inc. (NASDAQ:AZPN) will announce earnings per share of $1.08 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Aspen Technology’s earnings, with the highest EPS estimate coming in at $1.15 and the lowest estimate coming in at $1.02. Aspen Technology reported earnings per share of $0.59 in the same quarter last year, which suggests a positive year over year growth rate of 83.1%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Aspen Technology will report full-year earnings of $3.59 per share for the current fiscal year, with EPS estimates ranging from $3.52 to $3.65. For the next financial year, analysts anticipate that the business will post earnings of $3.42 per share, with EPS estimates ranging from $3.23 to $3.75. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Aspen Technology.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.10. Aspen Technology had a net margin of 37.25% and a return on equity of 76.36%. The company had revenue of $148.00 million during the quarter, compared to the consensus estimate of $136.38 million. During the same quarter in the prior year, the firm earned $0.52 EPS. Aspen Technology’s quarterly revenue was up 15.8% on a year-over-year basis.

A number of equities research analysts recently commented on AZPN shares. KeyCorp increased their price objective on shares of Ingersoll-Rand from $112.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. BidaskClub lowered shares of Zebra Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. Benchmark reiterated a “buy” rating and set a $80.00 price objective (up from $72.00) on shares of Pegasystems in a report on Wednesday, May 8th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Bank of America set a $64.00 price objective on shares of Verizon Communications and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $119.13.

NASDAQ:AZPN opened at $134.47 on Friday. Aspen Technology has a fifty-two week low of $74.84 and a fifty-two week high of $135.29. The firm has a market cap of $9.27 billion, a PE ratio of 65.28 and a beta of 1.56. The stock’s fifty day moving average is $123.84.

In other news, CEO Antonio J. Pietri sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $118.81, for a total value of $700,979.00. Following the sale, the chief executive officer now directly owns 207,497 shares of the company’s stock, valued at approximately $24,652,718.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Antonio J. Pietri sold 44,754 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $119.30, for a total transaction of $5,339,152.20. Following the completion of the sale, the chief executive officer now directly owns 227,577 shares in the company, valued at $27,149,936.10. The disclosure for this sale can be found here. Insiders sold 71,597 shares of company stock worth $8,580,241 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in AZPN. BlackRock Inc. lifted its holdings in Aspen Technology by 0.4% during the 1st quarter. BlackRock Inc. now owns 3,735,616 shares of the technology company’s stock worth $389,475,000 after purchasing an additional 16,722 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Aspen Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,747,819 shares of the technology company’s stock worth $182,228,000 after purchasing an additional 18,610 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Aspen Technology by 32.3% in the first quarter. William Blair Investment Management LLC now owns 1,582,680 shares of the technology company’s stock worth $165,010,000 after purchasing an additional 386,376 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Aspen Technology by 4.1% in the first quarter. Wells Fargo & Company MN now owns 1,244,823 shares of the technology company’s stock worth $129,785,000 after purchasing an additional 48,513 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in shares of Aspen Technology by 0.5% in the first quarter. Stephens Investment Management Group LLC now owns 765,092 shares of the technology company’s stock worth $79,768,000 after purchasing an additional 3,654 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

About Aspen Technology

Aspen Technology, Inc, together with its subsidiaries, operates as an asset optimization software company in the United States, Europe, and internationally. The company 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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