Brokerages expect that Aspen Technology, Inc. (NASDAQ:AZPN) will announce sales of $206.15 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Aspen Technology's earnings. The lowest sales estimate is $204.32 million and the highest is $209.22 million. Aspen Technology reported sales of $199.33 million in the same quarter last year, which indicates a positive year over year growth rate of 3.4%. The business is expected to announce 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 financial year, with estimates ranging from $715.74 million to $720.64 million. For the next financial year, analysts expect that the firm will report sales of $700.52 million, with estimates ranging from $681.70 million to $713.75 million. Zacks' sales averages are an average based on a survey of sell-side analysts that that provide coverage for Aspen Technology.
Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results on Tuesday, April 27th. The technology company reported $1.05 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $1.11 by ($0.06). The firm had revenue of $162.80 million for the quarter, compared to the consensus estimate of $178.37 million. Aspen Technology had a return on equity of 55.65% and a net margin of 45.30%. The business's revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share.
Separately, Robert W. Baird restated a "buy" rating on shares of Aspen Technology in a report on Tuesday, May 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of "Hold" and an average price target of $148.83.
NASDAQ:AZPN opened at $144.38 on Thursday. The company has a market capitalization of $9.82 billion, a PE ratio of 42.97, a P/E/G ratio of 2.27 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.42 and a current ratio of 5.42. The business's 50-day moving average price is $140.82. Aspen Technology has a 1-year low of $94.08 and a 1-year high of $162.56.
In related news, CEO Antonio J. Pietri sold 48,030 shares of the business's stock in a transaction dated Friday, May 28th. The stock was sold at an average price of $138.06, for a total value of $6,631,021.80. Following the sale, the chief executive officer now directly owns 285,349 shares in the company, valued at $39,395,282.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jr. Robert M. Whelan sold 8,966 shares of the business'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 value of $1,253,984.76. Following the sale, the director now directly owns 17,759 shares in the company, valued at $2,483,773.74. The disclosure for this sale can be found here. Insiders have sold 71,833 shares of company stock valued at $10,018,540 in the last three months. 1.10% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 40 North Management LLC bought a new position in Aspen Technology in the first quarter worth approximately $150,307,000. Bessemer Group Inc. grew its stake in Aspen Technology by 113.7% in the first quarter. Bessemer Group Inc. now owns 1,094,597 shares of the technology company's stock worth $157,984,000 after purchasing an additional 582,326 shares in the last quarter. Norges Bank bought a new position in Aspen Technology in the fourth quarter worth approximately $69,307,000. Millennium Management LLC lifted its holdings in Aspen Technology by 1,249.5% during the first quarter. Millennium Management LLC now owns 286,665 shares of the technology company's stock worth $41,374,000 after buying an additional 265,422 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Aspen Technology by 19.8% during the first quarter. Nordea Investment Management AB now owns 1,231,522 shares of the technology company's stock worth $178,491,000 after buying an additional 203,776 shares during the period. 97.64% 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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