Aspen Technology (NASDAQ:AZPN) Announces Quarterly Earnings Results

Aspen Technology (NASDAQ:AZPNGet Rating) released its quarterly earnings data on Wednesday. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.03, MarketWatch Earnings reports. Aspen Technology had a return on equity of 38.51% and a net margin of 38.80%. The firm had revenue of $187.75 million during the quarter, compared to analyst estimates of $190.61 million. During the same period in the prior year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Aspen Technology updated its FY22 guidance to $5.33-5.50 EPS.

Shares of AZPN stock opened at $152.62 on Thursday. The stock’s fifty day moving average is $153.10 and its 200-day moving average is $151.68. The stock has a market capitalization of $10.17 billion, a PE ratio of 39.30, a PEG ratio of 4.46 and a beta of 1.31. Aspen Technology has a 52 week low of $122.29 and a 52 week high of $169.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.40 and a current ratio of 3.40.

A number of institutional investors have recently bought and sold shares of AZPN. Morgan Stanley boosted its holdings in Aspen Technology by 333.3% in the second quarter. Morgan Stanley now owns 153,954 shares of the technology company’s stock valued at $21,174,000 after acquiring an additional 118,426 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in Aspen Technology in the fourth quarter valued at about $271,000. LPL Financial LLC boosted its holdings in Aspen Technology by 4.7% in the fourth quarter. LPL Financial LLC now owns 22,066 shares of the technology company’s stock valued at $3,358,000 after acquiring an additional 985 shares during the last quarter. Squarepoint Ops LLC bought a new position in Aspen Technology in the fourth quarter valued at about $707,000. Finally, Cetera Investment Advisers bought a new position in Aspen Technology in the fourth quarter valued at about $319,000. Institutional investors and hedge funds own 99.64% of the company’s stock.

Several research analysts have issued reports on AZPN shares. Loop Capital upgraded Aspen Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $160.00 to $175.00 in a research note on Thursday, March 17th. StockNews.com started coverage on Aspen Technology in a report on Thursday, March 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $167.71.

Aspen Technology Company Profile (Get Rating)

Aspen Technology, Inc, together with its subsidiaries, provides asset optimization solutions in North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company operates in two segments, Subscription and Software, and Services and Other. It offers asset optimization software that optimizes asset design, operations, and maintenance in various industrial environments.

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Earnings History for Aspen Technology (NASDAQ:AZPN)

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