PTC Inc. (PTC) Now Covered by Evercore ISI
PTC has been the subject of a number of other reports. Zacks Investment Research cut shares of PTC from a hold rating to a strong sell rating in a report on Wednesday, June 22nd. Wedbush reaffirmed an outperform rating and issued a $43.00 target price on shares of PTC in a report on Friday, July 15th. Finally, Citigroup Inc. assumed coverage on shares of PTC in a report on Monday, August 1st. They issued a buy rating and a $48.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. PTC has a consensus rating of Buy and an average price target of $41.82.
PTC (NASDAQ:PTC) opened at 43.39 on Wednesday. PTC has a 12-month low of $27.06 and a 12-month high of $43.96. The company has a 50-day moving average price of $42.20 and a 200-day moving average price of $37.39. The firm’s market capitalization is $4.99 billion.
PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.05. The firm earned $289.70 million during the quarter, compared to analyst estimates of $288.77 million. PTC had a negative net margin of 1.60% and a positive return on equity of 16.92%. PTC’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. On average, analysts predict that PTC will post $1.38 earnings per share for the current year.
In other PTC news, EVP Matthew Lessner Cohen sold 8,000 shares of PTC stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $42.57, for a total value of $340,560.00. Following the completion of the sale, the executive vice president now directly owns 14,607 shares of the company’s stock, valued at approximately $621,819.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $39.41, for a total transaction of $197,050.00. Following the completion of the sale, the director now directly owns 74,829 shares of the company’s stock, valued at $2,949,010.89. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in PTC. Citadel Advisors LLC boosted its stake in PTC by 582.3% in the second quarter. Citadel Advisors LLC now owns 1,611,643 shares of the company’s stock valued at $60,566,000 after buying an additional 1,375,422 shares during the last quarter. Norges Bank purchased a new stake in PTC during the fourth quarter valued at approximately $24,979,000. Marshall Wace LLP boosted its stake in PTC by 66.9% in the second quarter. Marshall Wace LLP now owns 1,456,791 shares of the company’s stock valued at $54,746,000 after buying an additional 584,103 shares during the last quarter. Royce & Associates LP boosted its stake in PTC by 35.5% in the first quarter. Royce & Associates LP now owns 1,589,100 shares of the company’s stock valued at $52,695,000 after buying an additional 416,000 shares during the last quarter. Finally, Chartwell Investment Partners LLC boosted its stake in PTC by 220.4% in the second quarter. Chartwell Investment Partners LLC now owns 518,534 shares of the company’s stock valued at $19,487,000 after buying an additional 356,710 shares during the last quarter. 95.74% of the stock is owned by hedge funds and other institutional investors.
PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.
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