PTC Inc. (NASDAQ:PTC) Receives Average Rating of “Buy” from Analysts

PTC Inc. (NASDAQ:PTCGet Rating) has received an average rating of “Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $136.50.

A number of equities research analysts have recently weighed in on the stock. TheStreet upgraded shares of PTC from a “c+” rating to a “b-” rating in a report on Wednesday, April 27th. Royal Bank of Canada cut their target price on PTC from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, April 25th. Mizuho boosted their target price on PTC from $125.00 to $135.00 in a research note on Thursday, April 28th. Citigroup dropped their price target on shares of PTC from $120.00 to $110.00 in a research note on Monday, April 25th. Finally, StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Monday, May 2nd.

In other news, Director Blake D. Moret sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $116.62, for a total value of $11,662,000.00. Following the transaction, the director now owns 10,070,234 shares of the company’s stock, valued at $1,174,390,689.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James E. Heppelmann sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $113.75, for a total value of $568,750.00. Following the completion of the transaction, the chief executive officer now directly owns 804,512 shares in the company, valued at approximately $91,513,240. The disclosure for this sale can be found here. Insiders sold a total of 307,906 shares of company stock worth $36,297,771 over the last ninety days. Corporate insiders own 10.15% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC grew its holdings in PTC by 24.5% during the fourth quarter. Penserra Capital Management LLC now owns 472 shares of the technology company’s stock worth $57,000 after acquiring an additional 93 shares during the period. State of Michigan Retirement System grew its holdings in PTC by 0.4% during the fourth quarter. State of Michigan Retirement System now owns 26,600 shares of the technology company’s stock worth $3,223,000 after acquiring an additional 100 shares during the period. Comerica Bank grew its holdings in PTC by 0.8% during the first quarter. Comerica Bank now owns 13,724 shares of the technology company’s stock worth $1,406,000 after acquiring an additional 106 shares during the period. Verition Fund Management LLC grew its holdings in PTC by 3.2% during the first quarter. Verition Fund Management LLC now owns 3,505 shares of the technology company’s stock worth $378,000 after acquiring an additional 109 shares during the period. Finally, Total Clarity Wealth Management Inc. grew its holdings in PTC by 19.7% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 730 shares of the technology company’s stock worth $88,000 after acquiring an additional 120 shares during the period. 86.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:PTC opened at $115.52 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $13.51 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.92 and a beta of 1.13. The firm’s 50-day moving average is $108.43 and its two-hundred day moving average is $112.01. PTC has a 1 year low of $96.55 and a 1 year high of $153.73.

PTC (NASDAQ:PTCGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.34. PTC had a net margin of 25.54% and a return on equity of 19.08%. The company had revenue of $505.23 million for the quarter, compared to analyst estimates of $482.34 million. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts expect that PTC will post 3.44 EPS for the current fiscal year.

PTC Company Profile (Get Rating)

PTC Inc operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers a set of capabilities that enable enterprises to digitally transform every aspect of their business with innovative solutions that are simple to create, easy to implement, scalable to meet future needs, and designed to enable customers to accelerate time to value; and Vuforia, which enables the visualization of digital information in a physical context and the creation of AR.

Further Reading

Analyst Recommendations for PTC (NASDAQ:PTC)

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