Zacks: Brokerages Anticipate Aspen Technology, Inc. (NASDAQ:AZPN) Will Announce Earnings of $2.18 Per Share

Wall Street analysts predict that Aspen Technology, Inc. (NASDAQ:AZPN - Get Rating) will post earnings of $2.18 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Aspen Technology's earnings, with estimates ranging from $2.09 to $2.38. Aspen Technology posted earnings of $1.53 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 42.5%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Aspen Technology will report full year earnings of $5.52 per share for the current fiscal year, with EPS estimates ranging from $5.43 to $5.72. For the next fiscal year, analysts forecast that the firm will post earnings of $6.01 per share, with EPS estimates ranging from $5.31 to $7.33. Zacks Investment Research's earnings per share averages are a mean average based on a survey of research firms that follow Aspen Technology.

Aspen Technology (NASDAQ:AZPN - Get Rating) last announced its earnings results on Wednesday, April 27th. The technology company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.01. Aspen Technology had a return on equity of 40.86% and a net margin of 39.22%. The company had revenue of $187.75 million for the quarter, compared to analysts' expectations of $190.61 million. During the same period last year, the firm earned $0.94 EPS. Aspen Technology's revenue for the quarter was up 15.4% compared to the same quarter last year.

A number of research firms have commented on AZPN. Piper Sandler decreased their price target on Aspen Technology from $170.00 to $159.00 and set a "neutral" rating on the stock in a report on Tuesday, May 17th. StockNews.com initiated coverage on Aspen Technology in a report on Saturday. They issued a "buy" rating on the stock. Loop Capital raised Aspen Technology from a "hold" rating to a "buy" rating and lifted their target price for the stock from $160.00 to $175.00 in a report on Thursday, March 17th. Zacks Investment Research raised Aspen Technology from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a report on Monday, May 2nd. Finally, TheStreet cut Aspen Technology from a "b" rating to a "c+" rating in a report on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $167.00.

NASDAQ:AZPN traded down $1.74 on Friday, reaching $201.70. 140,048 shares of the company's stock traded hands, compared to its average volume of 337,562. The company has a quick ratio of 4.07, a current ratio of 4.07 and a debt-to-equity ratio of 0.33. The stock has a 50-day simple moving average of $170.94 and a 200-day simple moving average of $155.51. The firm has a market cap of $13.08 billion, a PE ratio of 50.30, a P/E/G ratio of 5.00 and a beta of 1.25. Aspen Technology has a 12 month low of $122.29 and a 12 month high of $203.75.

In other Aspen Technology news, Director Jr. Robert M. Whelan sold 4,010 shares of the business's stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $159.07, for a total transaction of $637,870.70. Following the completion of the transaction, the director now owns 12,865 shares in the company, valued at $2,046,435.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Taconic Capital Advisors LP acquired a new position in shares of Aspen Technology during the first quarter worth $13,560,000. Quantum Private Wealth LLC acquired a new position in shares of Aspen Technology during the first quarter worth $214,000. EverSource Wealth Advisors LLC increased its position in shares of Aspen Technology by 107.8% during the first quarter. EverSource Wealth Advisors LLC now owns 3,708 shares of the technology company's stock worth $613,000 after purchasing an additional 1,924 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Aspen Technology during the first quarter worth $620,000. Finally, Gabelli Funds LLC grew its holdings in shares of Aspen Technology by 67.9% during the first quarter. Gabelli Funds LLC now owns 35,352 shares of the technology company's stock valued at $5,846,000 after buying an additional 14,297 shares during the last quarter. 96.49% of the stock is currently owned by institutional investors and hedge funds.

Aspen Technology Company Profile (Get Rating)

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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