Q1 2023 EPS Estimates for PTC Inc. (NASDAQ:PTC) Increased by Griffin Securities

PTC Inc. (NASDAQ:PTCGet Rating) – Equities researchers at Griffin Securities lifted their Q1 2023 earnings per share estimates for shares of PTC in a research note issued to investors on Thursday, July 28th. Griffin Securities analyst J. Vleeschhouwer now anticipates that the technology company will post earnings per share of $1.06 for the quarter, up from their previous estimate of $1.05. The consensus estimate for PTC’s current full-year earnings is $3.44 per share.

PTC (NASDAQ:PTCGet Rating) last issued its earnings results on Wednesday, July 27th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.19. The business had revenue of $462.47 million for the quarter, compared to analyst estimates of $473.65 million. PTC had a return on equity of 19.08% and a net margin of 25.54%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS.

Several other research firms have also commented on PTC. TheStreet raised PTC from a “c+” rating to a “b-” rating in a research report on Wednesday, April 27th. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Friday. Rosenblatt Securities cut their price objective on PTC from $156.00 to $146.00 and set a “buy” rating on the stock in a research report on Thursday, July 21st. Robert W. Baird lowered their target price on PTC from $160.00 to $153.00 in a research note on Thursday, July 21st. Finally, Royal Bank of Canada restated a “maintains” rating on shares of PTC in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $137.63.

PTC Trading Down 1.9 %

NASDAQ:PTC opened at $123.38 on Monday. The business’s 50-day moving average is $109.81 and its two-hundred day moving average is $109.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 1.24. PTC has a 12 month low of $96.55 and a 12 month high of $137.67. The firm has a market capitalization of $14.43 billion, a PE ratio of 30.54, a price-to-earnings-growth ratio of 3.06 and a beta of 1.13.

Insider Buying and Selling

In related news, Director Blake D. Moret sold 8,000 shares of PTC stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $124.68, for a total value of $997,440.00. Following the completion of the transaction, the director now directly owns 10,012,234 shares in the company, valued at $1,248,325,335.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Blake D. Moret sold 101,106 shares of PTC stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $118.80, for a total value of $12,011,392.80. Following the completion of the transaction, the director now directly owns 10,270,234 shares in the company, valued at $1,220,103,799.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Blake D. Moret sold 8,000 shares of the firm’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $124.68, for a total transaction of $997,440.00. Following the completion of the transaction, the director now directly owns 10,012,234 shares in the company, valued at approximately $1,248,325,335.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 309,230 shares of company stock worth $36,532,395. Corporate insiders own 10.15% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of large investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. lifted its holdings in PTC by 16.8% in the second quarter. Crossmark Global Holdings Inc. now owns 4,648 shares of the technology company’s stock worth $495,000 after acquiring an additional 670 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new position in PTC in the second quarter worth about $54,000. CWM LLC raised its holdings in shares of PTC by 14.6% during the second quarter. CWM LLC now owns 681 shares of the technology company’s stock valued at $72,000 after buying an additional 87 shares during the last quarter. North Star Asset Management Inc. raised its holdings in shares of PTC by 4.1% during the second quarter. North Star Asset Management Inc. now owns 133,787 shares of the technology company’s stock valued at $14,227,000 after buying an additional 5,272 shares during the last quarter. Finally, Banco Santander S.A. bought a new stake in shares of PTC during the second quarter valued at approximately $750,000. Institutional investors own 86.56% of the company’s stock.

About PTC

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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.

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Earnings History and Estimates for PTC (NASDAQ:PTC)

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