Aspen Technology (AZPN) Set to Announce Quarterly Earnings on Wednesday

Aspen Technology (NASDAQ:AZPNGet Rating) is scheduled to post its quarterly earnings results after the market closes on Wednesday, January 25th. Analysts expect Aspen Technology to post earnings of $1.13 per share for the quarter. Aspen Technology has set its FY 2023 guidance at $6.76-$6.91 EPS and its FY23 guidance at $6.76 to $6.91 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Aspen Technology (NASDAQ:AZPNGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The technology company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.89. Aspen Technology had a net margin of 21.55% and a return on equity of 5.75%. The business had revenue of $250.82 million during the quarter, compared to analyst estimates of $236.76 million. During the same period last year, the firm posted $0.65 EPS. The company’s revenue was up 84.4% on a year-over-year basis. On average, analysts expect Aspen Technology to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Aspen Technology Stock Performance

AZPN traded down $0.92 during trading on Tuesday, reaching $198.25. 131,936 shares of the company traded hands, compared to its average volume of 160,529. Aspen Technology has a 12-month low of $135.48 and a 12-month high of $263.59. The firm has a fifty day simple moving average of $214.00 and a 200 day simple moving average of $218.80. The company has a market cap of $12.80 billion, a P/E ratio of 66.08, a PEG ratio of 1.80 and a beta of 1.01.

Insider Activity

In other news, VP F G. Hammond sold 2,495 shares of the stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $223.75, for a total transaction of $558,256.25. Following the completion of the transaction, the vice president now directly owns 20,152 shares in the company, valued at approximately $4,509,010. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Aspen Technology

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Aspen Technology by 0.8% in the first quarter. Vanguard Group Inc. now owns 6,336,062 shares of the technology company’s stock worth $1,047,795,000 after buying an additional 51,393 shares during the last quarter. State Street Corp lifted its position in Aspen Technology by 2.1% in the first quarter. State Street Corp now owns 1,812,165 shares of the technology company’s stock worth $299,678,000 after buying an additional 36,999 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Aspen Technology by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 409,652 shares of the technology company’s stock worth $67,744,000 after buying an additional 13,823 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Aspen Technology by 23.0% in the second quarter. Goldman Sachs Group Inc. now owns 288,277 shares of the technology company’s stock worth $52,950,000 after buying an additional 53,990 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Aspen Technology by 9.3% in the first quarter. Wellington Management Group LLP now owns 250,323 shares of the technology company’s stock worth $41,397,000 after buying an additional 21,359 shares during the last quarter. 44.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AZPN. Robert W. Baird cut their price objective on shares of Aspen Technology from $242.00 to $224.00 and set a “neutral” rating for the company in a report on Wednesday, January 18th. StockNews.com began coverage on shares of Aspen Technology in a report on Wednesday, October 12th. They set a “hold” rating for the company. Berenberg Bank assumed coverage on shares of Aspen Technology in a report on Wednesday, January 11th. They set a “hold” rating and a $210.00 price objective for the company. Finally, KeyCorp increased their target price on Aspen Technology from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, October 27th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aspen Technology has a consensus rating of “Hold” and an average price target of $234.83.

Aspen Technology Company Profile

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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 offers artificial intelligence of things, aspen hybrid models, asset performance management, OSI digital grid management, and performance engineering; production optimization for commodity polymers, olefins, refining, and specialty chemicals; subsurface science and engineering; and value chain optimization for energy and polymers and specialty chemicals solutions.

See Also

Earnings History for Aspen Technology (NASDAQ:AZPN)

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