Aspen Technology (NASDAQ:AZPN) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.53-0.55 for the period, compared to the Thomson Reuters consensus estimate of $0.57. The company issued revenue guidance of $123-125 million, compared to the consensus revenue estimate of $125.34 million.
Shares of Aspen Technology opened at $93.84 on Friday, according to MarketBeat Ratings. Aspen Technology has a 12-month low of $92.14 and a 12-month high of $92.96. The stock has a market cap of $6.68 billion, a PE ratio of 44.47, a price-to-earnings-growth ratio of 4.53 and a beta of 1.21.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Wednesday, April 25th. The technology company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. Aspen Technology had a net margin of 33.19% and a negative return on equity of 61.04%. The company had revenue of $125.87 million during the quarter, compared to the consensus estimate of $121.94 million. During the same period last year, the firm earned $0.47 earnings per share. Aspen Technology’s revenue was up 5.5% compared to the same quarter last year. sell-side analysts anticipate that Aspen Technology will post 2.04 earnings per share for the current fiscal year.
A number of research analysts have weighed in on AZPN shares. BidaskClub raised shares of Aspen Technology from a buy rating to a strong-buy rating in a report on Saturday, March 10th. Bank of America lowered shares of Aspen Technology from a neutral rating to an underperform rating in a research report on Thursday, January 25th. They noted that the move was a valuation call. KeyCorp boosted their price target on shares of Aspen Technology from $83.00 to $88.00 and gave the stock an overweight rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Aspen Technology from a hold rating to a buy rating and set a $98.00 price target on the stock in a research report on Tuesday, May 1st. Finally, ValuEngine upgraded shares of Aspen Technology from a hold rating to a buy rating in a report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Aspen Technology has a consensus rating of Buy and an average target price of $83.88.
In related news, Director Jr. Robert M. Whelan sold 1,500 shares of the stock in a transaction on Monday, April 30th. The shares were sold at an average price of $88.03, for a total transaction of $132,045.00. Following the completion of the sale, the director now owns 11,887 shares in the company, valued at approximately $1,046,412.61. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP F G. Hammond sold 16,024 shares of the company’s stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $88.00, for a total transaction of $1,410,112.00. Following the transaction, the vice president now owns 29,113 shares of the company’s stock, valued at approximately $2,561,944. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,083 shares of company stock worth $2,216,193. Insiders own 0.60% of the company’s stock.
About Aspen Technology
Aspen Technology, Inc, together with its subsidiaries, provides software and services in the United States, Europe, and internationally. It operates through two segments, Subscription and Software, and Services. It supplies asset optimization solutions that optimize asset design, operations, and maintenance lifecycle in various industrial environments.
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