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

Brokerages forecast that Aspen Technology, Inc. (NASDAQ:AZPN) will announce $1.08 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Aspen Technology’s earnings, with estimates ranging from $1.02 to $1.15. Aspen Technology posted earnings per share of $0.59 in the same quarter last year, which would suggest a positive year over year growth rate of 83.1%. The company is scheduled to issue its next earnings report 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 financial year, with EPS estimates ranging from $3.52 to $3.65. For the next fiscal year, analysts forecast 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 EPS averages are an average based on a survey of sell-side research firms that cover Aspen Technology.

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

AZPN has been the topic of a number of research reports. Bank of America raised shares of Aspen Technology from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $88.00 to $116.00 in a research note on Tuesday, April 23rd. BidaskClub lowered shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 11th. Wedbush reaffirmed a “neutral” rating and set a $104.00 target price on shares of Aspen Technology in a research note on Monday, March 18th. Benchmark reaffirmed a “buy” rating and set a $110.00 target price on shares of Aspen Technology in a research note on Thursday, March 14th. Finally, KeyCorp initiated coverage on shares of Aspen Technology in a research note on Wednesday, April 10th. They set an “overweight” rating and a $120.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Aspen Technology presently has a consensus rating of “Buy” and an average price target of $117.25.

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

A number of large investors have recently bought and sold shares of AZPN. Ellis Investment Partners LLC bought a new stake in Aspen Technology during the first quarter worth about $33,000. Riverview Trust Co bought a new stake in Aspen Technology during the fourth quarter worth about $65,000. Meridian Wealth Management LLC bought a new stake in Aspen Technology during the first quarter worth about $76,000. Anderson Fisher LLC bought a new stake in Aspen Technology during the first quarter worth about $105,000. Finally, NumerixS Investment Technologies Inc boosted its stake in Aspen Technology by 75.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,400 shares of the technology company’s stock worth $113,000 after acquiring an additional 600 shares in the last quarter. 97.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of AZPN opened at $123.56 on Wednesday. The stock has a market cap of $8.60 billion, a PE ratio of 44.68 and a beta of 1.58. Aspen Technology has a 1-year low of $74.84 and a 1-year high of $127.00.

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.

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Earnings History and Estimates for Aspen Technology (NASDAQ:AZPN)

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