Aspen Technology (AZPN) to Release Earnings on Wednesday

Aspen Technology (NASDAQ:AZPNGet Rating) is set to release its earnings data 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 interested in registering for the company’s earnings conference call can do so using this link.

Aspen Technology (NASDAQ:AZPNGet Rating) last announced its earnings results 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. The business had revenue of $250.82 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm 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 Price Performance

AZPN stock traded down $0.92 during mid-day trading on Tuesday, reaching $198.25. The company had a trading volume of 131,936 shares, compared to its average volume of 160,529. The stock has a 50 day simple moving average of $214.00 and a two-hundred day simple moving average of $218.80. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 66.08, a PEG ratio of 1.80 and a beta of 1.01. Aspen Technology has a 52 week low of $135.48 and a 52 week high of $263.59.

Analysts Set New Price Targets

A number of research firms have weighed in on AZPN. Berenberg Bank began coverage on Aspen Technology in a research note on Wednesday, January 11th. They issued a “hold” rating and a $210.00 price target for the company. Robert W. Baird decreased their price target 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. StockNews.com began coverage on Aspen Technology in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, KeyCorp raised their price target on Aspen Technology from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, October 27th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $234.83.

Insider Transactions at Aspen Technology

In other news, VP F G. Hammond sold 2,495 shares of Aspen Technology 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Aspen Technology

Several institutional investors have recently added to or reduced their stakes in AZPN. Raymond James Financial Services Advisors Inc. boosted its stake in 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 period. HighTower Advisors LLC boosted its stake in Aspen Technology by 8.8% in the 1st quarter. HighTower Advisors LLC now owns 5,603 shares of the technology company’s stock valued at $918,000 after purchasing an additional 454 shares during the period. Great West Life Assurance Co. Can boosted its stake in Aspen Technology by 7.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 36,499 shares of the technology company’s stock valued at $6,201,000 after purchasing an additional 2,579 shares during the period. Raymond James Trust N.A. bought a new stake in Aspen Technology in the 1st quarter valued at $222,000. Finally, Allianz Asset Management GmbH raised its holdings in Aspen Technology by 1,331.8% in the 1st quarter. Allianz Asset Management GmbH now owns 170,315 shares of the technology company’s stock valued at $28,165,000 after acquiring an additional 158,420 shares in the last quarter. 44.40% of the stock is currently owned by institutional investors.

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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Earnings History for Aspen Technology (NASDAQ:AZPN)

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