Brokerages forecast that Aspen Technology, Inc. (NASDAQ:AZPN) will report $206.15 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Aspen Technology’s earnings. The lowest sales estimate is $204.32 million and the highest is $209.22 million. Aspen Technology posted sales of $199.33 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The business is expected to issue its next earnings results on Wednesday, August 11th.
According to Zacks, analysts expect that Aspen Technology will report full year sales of $717.56 million for the current fiscal year, with estimates ranging from $715.74 million to $720.64 million. For the next financial year, analysts anticipate that the company will report sales of $700.52 million, with estimates ranging from $681.70 million to $713.75 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Aspen Technology.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings data on Tuesday, April 27th. The technology company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.06). The business had revenue of $162.80 million for the quarter, compared to analysts’ expectations of $178.37 million. Aspen Technology had a return on equity of 55.65% and a net margin of 45.30%. Aspen Technology’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share.
Shares of NASDAQ:AZPN opened at $138.43 on Friday. The business’s fifty day simple moving average is $142.73. The firm has a market capitalization of $9.42 billion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 1.97 and a beta of 1.25. The company has a quick ratio of 5.42, a current ratio of 5.42 and a debt-to-equity ratio of 0.38. Aspen Technology has a 1-year low of $93.55 and a 1-year high of $162.56.
In other news, Director Jr. Robert M. Whelan sold 8,966 shares of the company’s stock in a transaction that occurred on Wednesday, May 26th. The stock was sold at an average price of $139.86, for a total transaction of $1,253,984.76. Following the sale, the director now owns 17,759 shares in the company, valued at approximately $2,483,773.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Hague sold 550 shares of the company’s stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $151.36, for a total value of $83,248.00. Following the sale, the executive vice president now owns 19,177 shares in the company, valued at approximately $2,902,630.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,098 shares of company stock valued at $8,052,793. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. KB Financial Partners LLC acquired a new stake in shares of Aspen Technology during the 1st quarter worth $192,000. Jackson Creek Investment Advisors LLC bought a new stake in shares of Aspen Technology during the 1st quarter worth $491,000. Baker Tilly Wealth Management LLC raised its position in Aspen Technology by 22.5% in the first quarter. Baker Tilly Wealth Management LLC now owns 5,293 shares of the technology company’s stock valued at $764,000 after purchasing an additional 971 shares during the last quarter. Melqart Asset Management UK Ltd raised its position in Aspen Technology by 256.6% in the first quarter. Melqart Asset Management UK Ltd now owns 26,827 shares of the technology company’s stock valued at $3,872,000 after purchasing an additional 19,303 shares during the last quarter. Finally, TownSquare Capital LLC raised its position in Aspen Technology by 4.2% in the first quarter. TownSquare Capital LLC now owns 24,871 shares of the technology company’s stock valued at $3,589,000 after purchasing an additional 1,010 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.
About Aspen Technology
Aspen Technology, Inc, together with its subsidiaries, provides asset optimization solutions in North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company operates in two segments, Subscription and Software, and Services and Other. It offers asset optimization software that optimizes asset design, operations, and maintenance in various industrial environments.
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