Aspen Technology, Inc. (NASDAQ:AZPN) – Research analysts at Wedbush raised their Q1 2020 EPS estimates for shares of Aspen Technology in a note issued to investors on Wednesday, October 16th. Wedbush analyst S. Koenig now anticipates that the technology company will post earnings per share of $0.50 for the quarter, up from their prior forecast of $0.49. Wedbush currently has a “Outperform” rating and a $155.00 price objective on the stock. Wedbush also issued estimates for Aspen Technology’s Q4 2020 earnings at $1.25 EPS, FY2020 earnings at $3.20 EPS, FY2021 earnings at $3.69 EPS and FY2022 earnings at $3.61 EPS.
AZPN has been the subject of a number of other research reports. ValuEngine lowered shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Benchmark restated a “buy” rating and set a $152.00 price target (up previously from $133.00) on shares of Aspen Technology in a research note on Monday, August 12th. BidaskClub upgraded shares of Aspen Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price target on shares of Aspen Technology from $131.00 to $123.00 and set an “underweight” rating for the company in a research note on Wednesday, September 11th. Finally, Bank of America restated a “neutral” rating and set a $136.00 price target (up previously from $130.00) on shares of Aspen Technology in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $134.57.
Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.50. The business had revenue of $195.77 million during the quarter, compared to analyst estimates of $162.71 million. Aspen Technology had a net margin of 43.91% and a return on equity of 62.06%. Aspen Technology’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 EPS.
In other news, CFO Karl E. Johnsen sold 2,972 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $136.80, for a total value of $406,569.60. Following the completion of the sale, the chief financial officer now owns 22,150 shares in the company, valued at approximately $3,030,120. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of AZPN. Nuveen Asset Management LLC bought a new stake in shares of Aspen Technology in the 2nd quarter worth $44,241,000. Riverbridge Partners LLC bought a new stake in shares of Aspen Technology in the 2nd quarter worth $22,156,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Aspen Technology by 2.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,072,554 shares of the technology company’s stock worth $754,697,000 after acquiring an additional 155,276 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Aspen Technology by 3.8% in the 2nd quarter. BlackRock Inc. now owns 3,877,106 shares of the technology company’s stock worth $481,849,000 after buying an additional 141,490 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. purchased a new position in shares of Aspen Technology in the 2nd quarter worth about $12,722,000. Hedge funds and other institutional investors own 97.16% 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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