Aspen Technology (NASDAQ:AZPN) Releases FY23 Earnings Guidance

Aspen Technology (NASDAQ:AZPNGet Rating) issued an update on its FY23 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $6.83-$7.43 for the period, compared to the consensus earnings per share estimate of $6.86. The company issued revenue guidance of $1.14-$1.20 billion, compared to the consensus revenue estimate of $1.17 billion.

Aspen Technology Stock Performance

Shares of NASDAQ:AZPN traded down $3.98 during trading on Wednesday, hitting $194.27. The company’s stock had a trading volume of 149,560 shares, compared to its average volume of 159,845. Aspen Technology has a fifty-two week low of $135.48 and a fifty-two week high of $263.59. The business has a 50 day moving average price of $212.95 and a two-hundred day moving average price of $218.63. The company has a market capitalization of $12.54 billion, a PE ratio of 64.76, a P/E/G ratio of 1.83 and a beta of 1.01.

Aspen Technology (NASDAQ:AZPNGet Rating) last released its earnings results on Wednesday, October 26th. The technology company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.09 by $0.89. The firm had revenue of $250.82 million during the quarter, compared to analysts’ expectations of $236.76 million. Aspen Technology had a return on equity of 5.75% and a net margin of 21.55%. Aspen Technology’s revenue for the quarter was up 84.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 EPS. As a group, equities analysts expect that Aspen Technology will post 5.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at Aspen Technology

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 value of $558,256.25. Following the completion of the sale, the vice president now directly owns 20,152 shares of the company’s stock, valued at $4,509,010. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new position in shares of Aspen Technology during the first quarter worth about $620,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Aspen Technology by 41.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,404 shares of the technology company’s stock valued at $563,000 after purchasing an additional 993 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Aspen Technology by 29.0% in the first quarter. Captrust Financial Advisors now owns 3,350 shares of the technology company’s stock valued at $554,000 after purchasing an additional 754 shares during the period. KB Financial Partners LLC increased its holdings in shares of Aspen Technology by 18.3% in the first quarter. KB Financial Partners LLC now owns 3,293 shares of the technology company’s stock valued at $545,000 after purchasing an additional 509 shares during the period. Finally, Pathstone Family Office LLC raised its stake in shares of Aspen Technology by 34.2% during the third quarter. Pathstone Family Office LLC now owns 2,164 shares of the technology company’s stock worth $515,000 after purchasing an additional 552 shares during the last quarter. 44.40% of the stock is currently owned by institutional investors and hedge funds.

About Aspen Technology

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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.

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