Aspen Technology Inc Stock Price, News & Analysis

Aspen Technology, Inc. (NASDAQ: AZPN) has appointed Robert 'Bob' Beauchamp to its Board of Directors, filling the final seat following the recent transaction with Emerson (NYSE: EMR). With over 30 years of experience in industrial technology and M&A, Beauchamp previously served as Chairman and CEO of BMC Software. CEO Antonio Pietri highlighted Beauchamp's leadership credentials as a significant asset for AspenTech's growth and sustainability initiatives. Beauchamp joins the Nominating and Corporate Governance Committee, aiming to leverage AspenTech's expertise in transforming industrial software.

Aspen Technology, Inc. (NASDAQ:AZPN) will announce its financial results for Q4 and fiscal year 2022, which ended on June 30, 2022, after U.S. markets close on August 8, 2022. The company plans to host a conference call and webcast on the same day at 4:30 p.m. ET to discuss these results and provide a business outlook. Interested parties can participate via dial-in or listen to a live webcast. A replay will be available until August 15, 2022. AspenTech is a leader in asset optimization software, assisting industries in meeting the growing demand for resources sustainably.

Aspen Technology, Inc. (NASDAQ:AZPN) announced its partnership with KH Neochem Co., Ltd. for the deployment of Aspen DMC3 advanced process control software. By standardizing on this technology, KH Neochem aims to enhance operational excellence across its plants, achieving real-time agility in operations. The software is designed to optimize processes and meet sustainability goals, including reduced emissions and waste. This collaboration signifies a strategic move towards digital transformation in the chemical sector.

Aspen Technology, Inc. (NASDAQ:AZPN) has announced upcoming presentations at investor conferences. CFO Chantelle Breithaupt will present at the Baird Global Consumer, Technology and Services Conference in New York on June 6, 2022, at 3:10 p.m. ET. Additionally, CEO Antonio Pietri and CFO Breithaupt will present at the William Blair Growth Stock Conference in Chicago on June 7, 2022, at 4:00 p.m. CT. These presentations will be available via webcast on the company's Investor Relations website.

Aspen Technology, Inc. (NASDAQ: AZPN) will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 23, 2022, at 1:50 p.m. ET. The presentation will feature Antonio Pietri, President and CEO, and Chantelle Breithaupt, CFO. Interested parties can access the live webcast on the company's Investor Relations website for a limited time.

AspenTech is a leader in asset optimization software, assisting industries in meeting the growing resource demands sustainably.

Aspen Technology (AZPN) has completed its acquisition of Emerson Electric's OSI and Geological Simulation Software (GSS) businesses for $6 billion. Emerson now holds a 55% stake in AspenTech, which aims to enhance market penetration through an extended commercial partnership. With more than 3,700 employees in 41 countries, AspenTech plans to leverage its diversified capabilities to address industrial sustainability and efficiency challenges. The GSS segment, renamed Subsurface Science and Engineering, will strengthen AspenTech's position in the oil and gas supply chain.

Emerson (NYSE: EMR) has successfully closed its merger with AspenTech, combining Emerson's industrial software assets with AspenTech to create a leading global software entity, referred to as new AspenTech. Emerson holds 55% ownership, while AspenTech shareholders retain 45%. The new AspenTech will trade under the symbol AZPN from May 17, 2022. This merger is expected to accelerate Emerson's software strategy, enhance its growth trajectory, and realize significant revenue and cost synergies in an evolving market.

Aspen Technology (NASDAQ:AZPN) announced an expansion of its 12-year partnership with St1 Refinery AB in Gothenburg, Sweden. The agreement involves deploying AspenTech's advanced software solutions, including Aspen DMC3 and Aspen GDOT, to enhance production optimization. This collaboration aims to improve energy efficiency, increase operating margins, and support St1's sustainability initiatives by reducing CO₂ emissions. St1's investment in renewable fuels aligns with their long-term strategy for a more sustainable energy future.

Aspen Technology, Inc. (NASDAQ: AZPN) reported strong third-quarter fiscal 2022 results, with total revenue of $187.8 million, indicating growth from $130.0 million in license revenue, $50.0 million in maintenance revenue, and $7.7 million in services. Net income rose to $75.1 million or $1.12 per share. The company anticipates annual spend growth of 7-8% and free cash flow of at least $285 million. A shareholder meeting is set for May 16, 2022, to discuss a proposed transaction with Emerson, expected to close in Q4 fiscal 2022.