Aspen Technology stock ( NASDAQ:AZPN ) is demonstrating some substantial elevation, much like the mountains of Aspen, Colorado.
The big-cap software company’s stock price continues to rise to new highs, leaving faltering industry colleagues at the bottom of the incline. It is up 63% this year and seems sure to end higher for the seventh year in a row. It has slowly risen to a 10-bagger during the last decade.
What Services Does Aspen Technology Provide?
Aspen Technology, based in Massachusetts (rather than the Rocky Mountains), develops software to assist resource-related firms in the design of equipment, operations, and maintenance programs. Aspen’s asset optimization solutions boost profitability and sustainability for its clients, who are predominantly in the energy and materials industries. Among its most frequent clients are oil refiners and manufacturers.
AspenONE is the company’s main solution, a trio of suites that provide:
- Asset performance management (APM).
- Real-time decision-making.
- Equipment failure prediction.
- Forecasting alternative actions and cures.
They encourage the efficiency and productivity improvements that are critical to contemporary industrial business.
What are the growth drivers for Aspen Stock?
During the economic recovery, the use of Aspen software has increased. The corporation achieved 40% profit growth in its most recent fiscal year (12 months ending June 30th, 2022), twice the top-line growth rate. Talk about efficiency! ...
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