Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating) – Equities researchers at KeyCorp boosted their Q1 2023 EPS estimates for shares of Aspen Technology in a research note issued to investors on Thursday, July 7th. KeyCorp analyst J. Celino now forecasts that the technology company will post earnings of $0.49 per share for the quarter, up from their prior forecast of $0.48. KeyCorp currently has a “Overweight” rating and a $210.00 price target on the stock. The consensus estimate for Aspen Technology’s current full-year earnings is $5.08 per share. KeyCorp also issued estimates for Aspen Technology’s Q2 2023 earnings at $1.31 EPS, Q3 2023 earnings at $1.43 EPS, Q4 2023 earnings at $1.76 EPS, FY2023 earnings at $4.97 EPS and FY2024 earnings at $5.74 EPS.
Aspen Technology (NASDAQ:AZPN – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.01. Aspen Technology had a net margin of 39.22% and a return on equity of 40.86%. The firm had revenue of $187.75 million for the quarter, compared to the consensus estimate of $190.61 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. The business’s revenue was up 15.4% on a year-over-year basis.
Other research analysts also recently issued research reports about the stock. Bank of America upped their price objective on shares of Aspen Technology from $176.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, June 6th. TheStreet lowered shares of Aspen Technology from a “b” rating to a “c+” rating in a research note on Tuesday, May 17th. StockNews.com lowered shares of Aspen Technology from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Robert W. Baird lowered shares of Aspen Technology from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $170.00 to $162.00 in a research note on Thursday. Finally, Piper Sandler upped their target price on shares of Aspen Technology from $159.00 to $189.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $193.33.
AZPN opened at $187.52 on Monday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $186.31 and its two-hundred day moving average price is $163.28. Aspen Technology has a 1-year low of $122.29 and a 1-year high of $210.60. The company has a market cap of $12.16 billion, a price-to-earnings ratio of 46.76, a PEG ratio of 1.86 and a beta of 1.21.
A number of institutional investors and hedge funds have recently made changes to their positions in AZPN. First Horizon Advisors Inc. grew its position in Aspen Technology by 956.3% during the fourth quarter. First Horizon Advisors Inc. now owns 169 shares of the technology company’s stock valued at $25,000 after acquiring an additional 153 shares during the last quarter. Confluence Wealth Services Inc. bought a new position in shares of Aspen Technology in the fourth quarter worth approximately $28,000. Parallel Advisors LLC grew its holdings in shares of Aspen Technology by 97.2% in the fourth quarter. Parallel Advisors LLC now owns 213 shares of the technology company’s stock worth $32,000 after purchasing an additional 105 shares during the last quarter. JFS Wealth Advisors LLC bought a new position in shares of Aspen Technology in the fourth quarter worth approximately $33,000. Finally, National Bank of Canada FI bought a new position in shares of Aspen Technology in the fourth quarter worth approximately $34,000. 96.49% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Jr. Robert M. Whelan sold 4,010 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $159.07, for a total value of $637,870.70. Following the sale, the director now directly owns 12,865 shares of the company’s stock, valued at $2,046,435.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.
Aspen Technology Company Profile (Get Rating)
Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring, and asset optimization solutions worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. It serves bulk chemicals, consumer packaged goods, downstream, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, upstream, and water and wastewater industries; power generation, transmission, and distribution industries; and engineering, procurement, and construction industries.
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