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Aspen Technology Inc - AZPN STOCK NEWS

Welcome to our dedicated page for Aspen Technology news (Ticker: AZPN), a resource for investors and traders seeking the latest updates and insights on Aspen Technology stock.

Aspen Technology, Inc. (symbol: AZPN) is a global leader in asset optimization software, providing solutions that enhance the performance, monitoring, management, and optimization of assets in capital-intensive industries. Founded in 1981, AspenTech's heritage business focuses on optimizing engineering, manufacturing, supply chain, and asset management functions. The company's cutting-edge solutions empower clients to design, operate, and maintain their operations, achieving goals in profitability, safety, and sustainability.

In 2021, AspenTech underwent a significant transformation when Emerson Electric acquired a 55% stake in the company through a $6 billion transaction, which included Emerson's Open Systems International (OSI) and subsurface science and engineering (SSE) businesses. This merger created a new AspenTech, combining the capabilities of the heritage Aspen, OSI, and SSE to serve over 3,000 customers across 40 countries.

Today, AspenTech continues to innovate and expand its product offerings, helping industries ranging from chemicals and energy to pharmaceuticals and mining. The company's software solutions are specifically designed to optimize asset performance, improve operational efficiency, and enhance sustainability efforts. With a strong financial foundation and strategic partnerships, AspenTech is well-positioned to continue leading the market in asset optimization.

Recent achievements include notable advancements in digital grid management through OSI and enhanced capabilities in subsurface science via SSE. These developments align with AspenTech's commitment to providing comprehensive solutions that address the evolving needs of modern industries. The company's ongoing projects and initiatives reflect its dedication to driving growth and delivering value to its customers and shareholders.

Latest News:

  • ST. LOUIS, Feb. 7, 2024 — Emerson reported first-quarter results for the fiscal year 2024, highlighting exceptional performance in key financial metrics.
  • ST. LOUIS, May 8, 2024 — Emerson announced second-quarter results for the fiscal year 2024, showcasing continued sales growth and margin expansion.
News

Aspen Technology Helps Advance TenneT’s Energy Transition

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Aspen Technology (AZPN) announces a strategic technology milestone with TenneT, integrating renewable energy into the grid. The new Power Management System aims to accelerate renewable capacity, align supply and demand, and enhance grid infrastructure resilience.
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Körber appoints Lawrence Schwartz as Chief Marketing Officer and Executive Vice President Software for Business Area Supply Chain

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Körber appoints Lawrence Schwartz as CMO and EVP Software for Körber Supply Chain, leveraging his 20 years of global marketing experience. Schwartz aims to drive innovative market strategies, enhance brand visibility, and strengthen customer relationships.
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Emerson Reports First Quarter 2024 Results; Updates 2024 Outlook

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Emerson (NYSE: EMR) reported strong first quarter results for fiscal 2024, with a 22% increase in net sales, a 56% growth in adjusted earnings per share, and a 47% rise in operating cash flow. The company also declared a quarterly cash dividend of $0.525 per share of common stock payable March 11, 2024. Emerson President and CEO, Lal Karsanbhai, highlighted the company's strong start to the year and updated its 2024 outlook, expecting significant growth in net sales and earnings per share.
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Aspen Technology Announces Financial Results for the Second Quarter of Fiscal 2024

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Aspen Technology, Inc. (AspenTech) (NASDAQ: AZPN) announced financial results for Q2 fiscal 2024, with ACV growth, solid demand, and resilient pipeline growth. However, there was a delay in a customer agreement renewal impacting ACV growth. Revenue was $257.2 million, and non-GAAP net income was $87.8 million. AspenTech reaffirmed its fiscal 2024 guidance, increasing its Non-GAAP net income per share guidance by $0.02.
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Aspen Technology Announces Net-Zero Commitment

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Aspen Technology, Inc. (NASDAQ:AZPN) commits to achieving net-zero greenhouse gas emissions by 2030, with a significant reduction in Scope 3 emissions by 2030 and full net-zero by 2045. The company is partnering with asset-intensive industries to guide them in their sustainability journeys and is developing a plan to achieve these targets within the next 24 months.
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Aspen Technology Announces OPTIMIZE 24

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Aspen Technology, Inc. (AZPN) announced its OPTIMIZE™ 24 conference, focusing on elevating business performance and achieving net-zero objectives through digital technology innovations. The event will bring together more than 1,500 customers and partners from asset-intensive industries to collaborate on sustainability goals. The conference will include industry-specific tracks, dedicated solutions tracks, and training courses across process and power & utilities industries.
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Aspen Technology Announces Date of Second-Quarter Fiscal Year 2024 Financial Results Release, Conference Call and Webcast

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Aspen Technology, Inc. (AspenTech) (NASDAQ: AZPN) will release financial results for its second quarter fiscal year 2024, ended December 31, 2023, after the U.S. financial markets close on Tuesday, February 6, 2024. A conference call and webcast presentation will be held to discuss financial results, business outlook, and related corporate and financial matters.
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Arista Networks Appoints New CFO

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Arista Networks (ANET) appoints Chantelle Breithaupt as CFO, Andy Bechtolsheim as chief architect, and Ken Duda as CTO, with Hugh Holbrook as CDO. Breithaupt brings 25 years of global financial experience, previously serving as CFO of Aspen Technology (AZPN) and in executive finance roles at Cisco Systems and four GE businesses.
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EY announces alliance with Aspen Technology to support clients' sustainability initiatives, improve manufacturing operations and modernize utility grids

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The EY organization announces an alliance between Aspen Technology, Inc. (AZPN) and Ernst & Young LLP (EY US), aiming to help clients in industrial and energy markets meet the demand for resources and achieve sustainability targets. The alliance combines EY technology and services with AspenTech's solutions for optimizing supply chains, improving asset lifecycles, managing emissions reduction and energy efficiency, and supporting utility grid orchestration. Sam Johnson, EY Americas Vice Chair, Markets and Accounts, highlights the collaboration's capabilities to drive improved production performance, energy efficiency, and emissions management across industries. Antonio Pietri, Chief Executive Officer of AspenTech, emphasizes the goal of helping asset-intensive industries accelerate adoption of digital solutions to achieve sustainability, profitability, and resilience goals.
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Aspen Technology Introduces New Software Updates Enabling Customers to Achieve Advanced Levels of Operational Excellence

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Aspen Technology, Inc. (NASDAQ:AZPN) introduces new sustainability and performance capabilities in aspenONE®, its asset optimization solutions, including industrial AI-based models, industrial data management, and new product integrations. The updates aim to accelerate customer digitalization strategies, achieve advanced levels of operational excellence, and progress net zero initiatives.
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FAQ

What is the current stock price of Aspen Technology (AZPN)?

The current stock price of Aspen Technology (AZPN) is $249.56 as of December 23, 2024.

What is the market cap of Aspen Technology (AZPN)?

The market cap of Aspen Technology (AZPN) is approximately 15.8B.

What does Aspen Technology, Inc. do?

Aspen Technology, Inc. develops software for asset performance, monitoring, management, and optimization solutions in capital-intensive industries.

When was Aspen Technology founded?

Aspen Technology was founded in 1981.

What significant change occurred for AspenTech in 2021?

In 2021, Emerson Electric acquired a 55% stake in AspenTech, including its Open Systems International and subsurface science and engineering businesses.

How many customers does AspenTech serve?

AspenTech serves more than 3,000 customers across 40 countries.

What industries benefit from AspenTech's solutions?

Industries such as chemicals, energy, pharmaceuticals, and mining benefit from AspenTech's optimization solutions.

What are some recent achievements of AspenTech?

Recent achievements include advancements in digital grid management through OSI and enhanced subsurface science capabilities via SSE.

How does AspenTech contribute to sustainability?

AspenTech's software solutions help industries improve operational efficiency and sustainability by optimizing asset performance.

What are the core functions optimized by AspenTech's software?

AspenTech's software optimizes engineering, manufacturing, supply chain, and asset management functions.

What recent financial performance updates are available for AspenTech?

Recent updates include Emerson reporting strong first and second-quarter results for fiscal year 2024.

How does AspenTech's partnership with Emerson benefit the company?

The partnership with Emerson has strengthened AspenTech's financial position and expanded its capabilities, enhancing its market leadership in asset optimization.

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Aspen Technology Inc

Nasdaq:AZPN

AZPN Rankings

#635 Ranked by Market Cap
N/A Ranked by Dividends

AZPN Stock Data

15.84B
26.77M
57.68%
48.58%
1.87%
Software - Application
Services-computer Programming Services
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United States of America
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