Zacks: Brokerages Expect Aspen Technology, Inc. (AZPN) Will Announce Quarterly Sales of $121.90 Million
Wall Street brokerages expect Aspen Technology, Inc. (NASDAQ:AZPN) to announce $121.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Aspen Technology’s earnings. The highest sales estimate is $123.50 million and the lowest is $121.20 million. Aspen Technology reported sales of $120.05 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.5%. The company is expected to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Aspen Technology will report full year sales of $121.90 million for the current fiscal year, with estimates ranging from $489.90 million to $498.00 million. For the next fiscal year, analysts expect that the business will post sales of $521.49 million per share, with estimates ranging from $515.40 million to $531.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Aspen Technology.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Thursday, August 10th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping 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 company had revenue of $123.68 million during the quarter, compared to analyst estimates of $119.55 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year.
Several equities analysts recently weighed in on AZPN shares. Berenberg Bank began coverage on shares of Aspen Technology in a research note on Wednesday, August 23rd. They set a “buy” rating and a $70.00 target price for the company. Zacks Investment Research raised shares of Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Canaccord Genuity reissued a “hold” rating and issued a $60.00 price objective on shares of Aspen Technology in a research note on Friday, June 9th. BidaskClub cut shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Wedbush reissued a “neutral” rating and issued a $59.00 price objective on shares of Aspen Technology in a research note on Wednesday, June 28th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $61.75.
Aspen Technology (NASDAQ:AZPN) opened at 64.24 on Wednesday. The company has a 50-day moving average of $60.80 and a 200 day moving average of $58.89. Aspen Technology has a 12 month low of $45.47 and a 12 month high of $64.87. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 30.45 and a beta of 1.26.
In other Aspen Technology news, VP F G. Hammond sold 3,388 shares of Aspen Technology stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karl E. Johnsen sold 1,969 shares of Aspen Technology stock in a transaction on Tuesday, August 15th. The stock was 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.
Several hedge funds have recently added to or reduced their stakes in AZPN. Bank of New York Mellon Corp boosted its stake in shares of Aspen Technology by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 367,323 shares of the technology company’s stock worth $21,643,000 after purchasing an additional 3,986 shares during the period. Comerica Bank boosted its stake in shares of Aspen Technology by 6.4% during the 1st quarter. Comerica Bank now owns 4,302 shares of the technology company’s stock worth $266,000 after purchasing an additional 259 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Aspen Technology by 48.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 96,138 shares of the technology company’s stock worth $5,664,000 after purchasing an additional 31,531 shares during the period. Karp Capital Management Corp purchased a new position in shares of Aspen Technology during the 1st quarter worth about $767,000. Finally, Mutual of America Capital Management LLC boosted its stake in shares of Aspen Technology by 57.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 29,988 shares of the technology company’s stock worth $1,767,000 after purchasing an additional 10,888 shares during the period.
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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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