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

Aspen Technology (NASDAQ:AZPNGet Rating) will be posting 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.Investors that are interested in registering for the company’s conference call can do so using this link.

Aspen Technology (NASDAQ:AZPNGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The technology company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.09 by $0.89. The firm had revenue of $250.82 million during the quarter, compared to the consensus estimate of $236.76 million. Aspen Technology had a return on equity of 5.75% and a net margin of 21.55%. The firm’s revenue was up 84.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 EPS. 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 Down 0.5 %

AZPN traded down $0.92 on Tuesday, hitting $198.25. 131,936 shares of the company traded hands, compared to its average volume of 160,529. The company has a 50 day moving average of $214.00 and a 200-day moving average of $218.80. The stock has a market capitalization of $12.80 billion, a PE ratio of 66.08, a PEG ratio of 1.80 and a beta of 1.01. Aspen Technology has a 12-month low of $135.48 and a 12-month high of $263.59.

Analyst Upgrades and Downgrades

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

Insider Transactions at Aspen Technology

In related news, VP F G. Hammond sold 2,495 shares of the firm’s 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 transaction, the vice president now directly owns 20,152 shares of the company’s stock, valued at approximately $4,509,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Aspen Technology

Several hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. purchased a new position in Aspen Technology in the 3rd quarter valued at approximately $485,000. Teachers Retirement System of The State of Kentucky purchased a new position in Aspen Technology in the 3rd quarter valued at approximately $1,019,000. Captrust Financial Advisors increased its stake in Aspen Technology by 43.6% in the 3rd quarter. Captrust Financial Advisors now owns 2,254 shares of the technology company’s stock valued at $537,000 after purchasing an additional 684 shares in the last quarter. Alliancebernstein L.P. increased its stake in Aspen Technology by 1.8% in the 3rd quarter. Alliancebernstein L.P. now owns 44,047 shares of the technology company’s stock valued at $10,492,000 after purchasing an additional 789 shares in the last quarter. Finally, State Street Corp grew its holdings in Aspen Technology by 2.1% during the 3rd quarter. State Street Corp now owns 771,982 shares of the technology company’s stock valued at $183,886,000 after buying an additional 16,115 shares during the last quarter. 44.40% of the stock is owned by hedge funds and other institutional investors.

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.

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Earnings History for Aspen Technology (NASDAQ:AZPN)

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