Aspen Technology, Inc. (AZPN) Issues Earnings Results, Beats Estimates By $0.29 EPS

Aspen Technology, Inc. (NASDAQ:AZPN) announced its quarterly earnings results on Thursday. The technology company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.29, Morningstar.com reports. Aspen Technology had a negative return on equity of 80.54% and a net margin of 29.85%. The company had revenue of $123.68 million during the quarter, compared to analyst estimates of $119.55 million. During the same period in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis.

Shares of Aspen Technology (NASDAQ:AZPN) opened at 56.65 on Friday. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 31.51 and a beta of 1.28. Aspen Technology has a 1-year low of $41.30 and a 1-year high of $64.34. The stock has a 50 day moving average price of $56.42 and a 200 day moving average price of $57.78.

Several institutional investors have recently modified their holdings of AZPN. Vanguard Group Inc. raised its position in shares of Aspen Technology by 1.6% in the first quarter. Vanguard Group Inc. now owns 7,635,099 shares of the technology company’s stock valued at $449,861,000 after buying an additional 120,504 shares during the last quarter. BlackRock Inc. raised its position in shares of Aspen Technology by 46,846.9% in the first quarter. BlackRock Inc. now owns 5,503,112 shares of the technology company’s stock valued at $324,242,000 after buying an additional 5,491,390 shares during the last quarter. FMR LLC raised its position in shares of Aspen Technology by 48.5% in the first quarter. FMR LLC now owns 4,206,339 shares of the technology company’s stock valued at $247,837,000 after buying an additional 1,374,200 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of Aspen Technology by 4.8% in the first quarter. Neuberger Berman Group LLC now owns 3,501,290 shares of the technology company’s stock valued at $206,296,000 after buying an additional 160,253 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Aspen Technology by 1.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,479,044 shares of the technology company’s stock valued at $204,985,000 after buying an additional 42,792 shares during the last quarter.

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A number of equities analysts recently commented on AZPN shares. Robert W. Baird reissued an “outperform” rating and set a $65.00 price target on shares of Aspen Technology in a research note on Thursday, May 11th. Benchmark Co. reaffirmed a “hold” rating and issued a $55.00 price objective (up from $48.00) on shares of Aspen Technology in a research note on Wednesday, May 3rd. Zacks Investment Research raised Aspen Technology from a “sell” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Aspen Technology in a research note on Friday, June 9th. Finally, BidaskClub lowered Aspen Technology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Aspen Technology currently has a consensus rating of “Buy” and a consensus target price of $60.29.

About Aspen Technology

Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.

Earnings History for Aspen Technology (NASDAQ:AZPN)

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