Aspen Technology, Inc. (NASDAQ:AZPN) Expected to Post Quarterly Sales of $134.61 Million

Share on StockTwits

Wall Street brokerages expect Aspen Technology, Inc. (NASDAQ:AZPN) to report sales of $134.61 million for the current quarter, according to Zacks. Five analysts have made estimates for Aspen Technology’s earnings. The highest sales estimate is $139.30 million and the lowest is $129.77 million. Aspen Technology posted sales of $140.42 million during the same quarter last year, which would indicate a negative year over year growth rate of 4.1%. The company is expected to announce its next quarterly earnings results on Wednesday, January 22nd.

On average, analysts expect that Aspen Technology will report full-year sales of $600.06 million for the current financial year, with estimates ranging from $595.70 million to $604.60 million. For the next financial year, analysts forecast that the company will report sales of $666.26 million, with estimates ranging from $628.36 million to $704.46 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Aspen Technology.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.30. The company had revenue of $134.09 million for the quarter, compared to the consensus estimate of $119.49 million. Aspen Technology had a net margin of 43.83% and a return on equity of 67.12%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share.

A number of research firms have commented on AZPN. Benchmark reissued a “buy” rating and set a $152.00 price target (up from $133.00) on shares of Aspen Technology in a report on Monday, August 12th. JPMorgan Chase & Co. lowered their price objective 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. Bank of America reiterated a “neutral” rating and issued a $136.00 price target (up from $130.00) on shares of Aspen Technology in a report on Thursday, August 8th. KeyCorp increased their price target on shares of Aspen Technology from $124.00 to $141.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Canaccord Genuity raised their price target on shares of Aspen Technology from $126.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Aspen Technology currently has an average rating of “Hold” and an average target price of $134.57.

AZPN traded up $0.02 during midday trading on Thursday, reaching $122.51. The company had a trading volume of 273,300 shares, compared to its average volume of 423,946. The business has a 50-day moving average of $118.58 and a two-hundred day moving average of $124.62. The company has a market cap of $8.55 billion, a P/E ratio of 32.50 and a beta of 1.56. Aspen Technology has a 1 year low of $75.01 and a 1 year high of $142.15. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.07.

In related news, CFO Karl E. Johnsen sold 2,310 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $116.82, for a total transaction of $269,854.20. Following the transaction, the chief financial officer now directly owns 28,667 shares in the company, valued at approximately $3,348,878.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Summit Global Investments increased its stake in Aspen Technology by 0.3% during the 2nd quarter. Summit Global Investments now owns 27,030 shares of the technology company’s stock valued at $3,359,000 after purchasing an additional 89 shares in the last quarter. AGF Investments LLC raised its stake in Aspen Technology by 1.5% in the 2nd quarter. AGF Investments LLC now owns 6,427 shares of the technology company’s stock worth $799,000 after acquiring an additional 96 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in Aspen Technology by 4.0% in the 3rd quarter. First Allied Advisory Services Inc. now owns 3,158 shares of the technology company’s stock worth $390,000 after acquiring an additional 122 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in Aspen Technology by 2.6% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 5,079 shares of the technology company’s stock worth $625,000 after acquiring an additional 131 shares during the period. Finally, Zacks Investment Management lifted its position in Aspen Technology by 0.6% during the 2nd quarter. Zacks Investment Management now owns 23,563 shares of the technology company’s stock worth $2,928,000 after acquiring an additional 149 shares during the period. Institutional investors own 97.11% 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.

Recommended Story: What is a Derivative?

Get a free copy of the Zacks research report on Aspen Technology (AZPN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Aspen Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Technology and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.