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. Celino now forecasts that the technology company will post earnings of $0.49 per share for the quarter, up from their prior forecast 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 quarterly earnings data 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 net margin of 39.22% and a return on equity of 40.86%. The firm had revenue of $187.75 million for the quarter, compared to the consensus estimate of $190.61 million. In the same quarter last year, the company reported $0.94 earnings per share. Business revenues increased by 15.4% year-on-year.
Other analysts have also recently issued research reports on the stock. Bank of America boosted their price objective on shares of Aspen Technology from $176.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, June 6th. TheStreet lowered shares of Aspen Technology from a “b” rating to a “c+” rating in a research note on Tuesday, May 17th. StockNews.com lowered shares of Aspen Technology from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Robert W. Baird downgraded shares of Aspen Technology from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $170.00 to $162.00 in a research note on Thursday. Finally, Piper Sandler upped their target price on shares of Aspen Technology from $159.00 to $189.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 28th. Two equities 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $193.33, according to MarketBeat.com.
AZPN opened at $187.52 on Monday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average is $186.31 and its two hundred day moving average is $163.28. Aspen Technology has a 1-year low of $122.29 and a 1-year high of $210.60. The company has a market cap of $12.16 billion, a price-to-earnings ratio of 46.76, a PEG ratio of 1.86 and a beta of 1.21.
A number of institutional investors and hedge funds have recently made changes to their positions in AZPN. First Horizon Advisors Inc. grew its position in Aspen Technology by 956.3% in the fourth quarter. First Horizon Advisors Inc. now owns 169 shares of the technology company’s stock valued at $25,000 after acquiring an additional 153 shares in the last quarter. Confluence Wealth Services Inc. purchased a new position in shares of Aspen Technology during the fourth quarter valued at approximately $28,000. Parallel Advisors LLC increased its holdings in shares of Aspen Technology by 97.2% during the fourth quarter. Parallel Advisors LLC now owns 213 shares of the technology company’s stock valued at $32,000 after buying an additional 105 shares in the last quarter. JFS Wealth Advisors LLC purchased a new position in shares of Aspen Technology in the fourth quarter valued at approximately $33,000. Finally, National Bank of Canada FI purchased a new position in shares of Aspen Technology in the fourth quarter valued at approximately $34,000. 96.49% of the shares are currently owned by institutional investors and hedge funds.
In other news, Director Robert M. Whalen, Jr. sold 4,010 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $159.07, for a total value of $637,870.70. Following the sale, the director now directly owns 12,865 shares of the company’s stock, valued at $2,046,435.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of shares are owned by corporate insiders.
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.
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