Aspen Technology (NASDAQ:AZPN) Releases Earnings Results, Beats Estimates By $0.10 EPS

Aspen Technology (NASDAQ:AZPN) announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10, Morningstar.com reports. The company had revenue of $148.00 million for the quarter, compared to the consensus estimate of $136.38 million. Aspen Technology had a return on equity of 76.36% and a net margin of 37.25%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS.

Shares of Aspen Technology stock traded down $1.02 on Friday, hitting $116.05. The company had a trading volume of 238,682 shares, compared to its average volume of 465,368. The company has a market cap of $7.89 billion, a PE ratio of 56.33 and a beta of 1.61. Aspen Technology has a 1 year low of $74.84 and a 1 year high of $124.96.

AZPN has been the topic of a number of research reports. BidaskClub raised Aspen Technology from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $131.00 price target on shares of Aspen Technology in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $133.00 price target (up from $113.00) on shares of Aspen Technology in a research note on Wednesday, May 8th. Zacks Investment Research downgraded Aspen Technology from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Canaccord Genuity upped their price target on Aspen Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, January 24th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $117.25.

In other news, insider Karl E. Johnsen sold 3,037 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $121.38, for a total value of $368,631.06. Following the completion of the sale, the insider now directly owns 26,453 shares of the company’s stock, valued at $3,210,865.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Antonio J. Pietri sold 7,095 shares of the stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $99.49, for a total value of $705,881.55. Following the completion of the sale, the chief executive officer now directly owns 237,920 shares of the company’s stock, valued at $23,670,660.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,692 shares of company stock valued at $9,286,123. Company insiders own 0.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in Aspen Technology by 9.0% during the fourth quarter. Legal & General Group Plc now owns 136,713 shares of the technology company’s stock valued at $11,235,000 after purchasing an additional 11,248 shares during the period. Vanguard Group Inc grew its holdings in Aspen Technology by 5.5% during the third quarter. Vanguard Group Inc now owns 6,996,441 shares of the technology company’s stock valued at $796,965,000 after purchasing an additional 362,193 shares during the period. Stifel Financial Corp grew its holdings in Aspen Technology by 0.4% during the fourth quarter. Stifel Financial Corp now owns 107,233 shares of the technology company’s stock valued at $8,828,000 after purchasing an additional 396 shares during the period. Standard Life Aberdeen plc grew its holdings in Aspen Technology by 5.2% during the fourth quarter. Standard Life Aberdeen plc now owns 565,805 shares of the technology company’s stock valued at $45,830,000 after purchasing an additional 28,091 shares during the period. Finally, First Manhattan Co. lifted its position in shares of Aspen Technology by 102.7% during the first quarter. First Manhattan Co. now owns 4,054 shares of the technology company’s stock worth $422,000 after acquiring an additional 2,054 shares in the last quarter. 99.04% of the stock is owned by institutional investors.

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Aspen Technology Company Profile

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.

Further Reading: Leveraged Buyout (LBO)

Earnings History for Aspen Technology (NASDAQ:AZPN)

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