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

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

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Wednesday, January 24th. The technology company reported $0.59 EPS for the quarter, topping the 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 firm had revenue of $124.90 million during the quarter, compared to analysts’ expectations of $121.81 million. During the same quarter in the prior year, the firm earned $0.52 EPS. Aspen Technology’s quarterly revenue was up 4.1% on a year-over-year basis.

Several other research analysts have also recently issued reports on AZPN. KeyCorp reiterated an “overweight” rating and issued a $88.00 price objective (up from $83.00) on shares of Aspen Technology in a report on Thursday. Robert W. Baird reiterated a “hold” rating on shares of Aspen Technology in a report on Wednesday, January 24th. Wedbush reiterated a “neutral” rating and issued a $74.00 price objective (up from $65.00) on shares of Aspen Technology in a report on Thursday. Berenberg Bank reiterated a “buy” rating and issued a $88.00 price objective (up from $77.00) on shares of Aspen Technology in a report on Thursday. Finally, Canaccord Genuity increased their price objective on shares of Aspen Technology from $65.00 to $73.00 and gave the company a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $72.67.

Aspen Technology (NASDAQ:AZPN) opened at $80.12 on Monday. The stock has a market cap of $5,763.75, a P/E ratio of 36.58, a PEG ratio of 25.52 and a beta of 1.23. Aspen Technology has a 1-year low of $52.23 and a 1-year high of $84.40.

In related news, insider Karl E. Johnsen sold 2,619 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $64.41, for a total transaction of $168,689.79. Following the completion of the sale, the insider now directly owns 40,063 shares of the company’s stock, valued at $2,580,457.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jr. Robert M. Whelan sold 10,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $66.01, for a total transaction of $660,100.00. Following the sale, the director now directly owns 25,559 shares of the company’s stock, valued at $1,687,149.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,197 shares of company stock valued at $931,360. Company insiders own 0.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in shares of Aspen Technology by 0.7% in the 2nd 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 lifted its position in shares of Aspen Technology by 2.8% in the 2nd quarter. M&T Bank Corp now owns 5,834 shares of the technology company’s stock valued at $322,000 after acquiring an additional 159 shares in the last quarter. QS Investors LLC lifted its position in shares of Aspen Technology by 0.4% in the 2nd quarter. QS Investors LLC now owns 81,019 shares of the technology company’s stock valued at $4,477,000 after acquiring an additional 288 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Aspen Technology by 0.6% in 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 acquiring an additional 293 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Aspen Technology by 0.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 92,443 shares of the technology company’s stock valued at $5,108,000 after acquiring an additional 807 shares in the last quarter.

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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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