KeyCorp Comments on Aspen Technology, Inc. Earnings for Q1 2023 (NASDAQ:AZPN)

Aspen Technology, Inc. (NASDAQ:AZPN – Get Rating ) – Equities researchers at KeyCorp boosted their Q1 2023 earnings per share estimates for shares of Aspen Technology in a research note issued to investors on Thursday, July 7th. KeyCorp analyst J. Cellino now anticipates that the technology company will post earnings per share of $0.49 for the quarter, up from their prior estimate of $0.48. KeyCorp currently has an “overweight” rating and a $210.00 target price 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. EPS. Aspen Technology (NASDAQ:AZPN – Get Rating ) last posted its earnings results 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 return on equity of 40.86% and a net margin of 39.22%. The business had revenue of $187.75 million for the quarter, compared to analyst estimates of $190.61 million. During the same period last year, the company reported $0.94 EPS. The business’s quarterly revenue was up 15.4% year over year.

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AZPN has been the subject of several other reports. Robert W. Baird downgraded Aspen Technology from an “outperform” rating to a “neutral” rating and cut their target price for the company from $170.00 to $162.00 in a research report on Thursday. StockNews.com lowered Aspen Technology from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Piper Sandler boosted their target price on Aspen Technology from $159.00 to $189.00 and gave the company a “neutral” rating in a research note on Tuesday, June 28th. TheStreet downgraded Aspen Technology from a “b” rating to a “c+” rating in a research note on Tuesday, May 17th. Finally, Loop Capital boosted their target price on Aspen Technology from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, June 15th. Two 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 company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $193.33, based on data from MarketBeat.com.

NASDAQ:AZPN opened at $187.52 on Monday. The business’s 50-day moving average is $186.31, and its two-hundred-day moving average is $163.28. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.07 and a quick ratio of 4.07. Aspen Technology has a 12-month low of $122.29 and a 12-month high of $210.60. The firm has a market cap of $12.16 billion, a PE ratio of 46.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.21.

In other news, Director Robert M. Whalen, Jr. sold 4,010 shares of Aspen Technology stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $159.07, for a total transaction of $637,870.70. Following the sale, the director now owns 12,865 shares of the company’s stock, valued at $2,046,435.55. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. boosted its holdings in Aspen Technology by 296.1% during the fourth quarter. Epoch Investment Partners Inc. now owns 1,058,435 shares of the technology company’s stock valued at $161,094,000 after buying an additional 791,211 shares during the last quarter. Standard Investments LLC boosted its position in Aspen Technology by 22.2% in the fourth quarter. Standard Investments LLC now owns 2,439,000 shares of the technology company’s stock valued at $371,216,000 after buying an additional 443,000 shares during the last quarter. BlackRock Inc. increased its position in Aspen Technology by 6.5% in the first quarter. BlackRock Inc. now owns 6,645,133 shares of the technology company’s stock valued at $1,098,905,000 after purchasing an additional 407,220 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Aspen Technology by 96.1% in the first quarter. Lord Abbett & CO. LLC now owns 527,069 shares of the technology company’s stock valued at $87,161,000 after buying an additional 258,347 shares during the last quarter. Finally, Alpine Associates Management Inc. acquired a new position in Aspen Technology during the fourth quarter valued at approximately $29,556,000. 96.49% of shares are currently owned by institutional investors.

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 target complex environments where it is critical to optimize asset design, operation and maintenance lifecycle. Serving bulk chemicals, consumer packaged goods, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, upstream, and water and wastewater industries; electricity generation, transmission and distribution industries; and engineering, supply and construction industries.

See also

Aspen Technology (NASDAQ:AZPN) Earnings History and Forecasts

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