PTC Inc. (PTC) Rating Increased to Hold at Zacks Investment Research
PTC Inc. (NASDAQ:PTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “PTC Inc. develops, markets, and supports software solutions. The company offers enterprise solutions and desktop solutions. Its principal Enterprise Solutions are Windchill, Arbortext, Creo View and Integrity. The Company’s Desktop Solutions include its integrated Creo software suite, its Mathcad engineering calculations software and its Arbortext document authoring tools. It also offers consultation, implementation, training, and maintenance services. PTC Inc., formerly known as Parametric Technology Corporation, is headquartered in Needham, Massachusetts. “
A number of other equities research analysts also recently issued reports on the stock. Evercore ISI assumed coverage on shares of PTC in a research report on Wednesday, September 14th. They set a “buy” rating and a $50.00 price target for the company. Citigroup Inc. assumed coverage on shares of PTC in a research note on Monday, August 1st. They set a “buy” rating and a $48.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a $43.00 price objective on shares of PTC in a research note on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. PTC presently has a consensus rating of “Buy” and a consensus price target of $41.82.
PTC (NASDAQ:PTC) opened at 43.39 on Tuesday. PTC has a 12-month low of $27.06 and a 12-month high of $43.96. The firm’s market capitalization is $4.99 billion. The company has a 50-day moving average price of $42.20 and a 200-day moving average price of $37.39.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.05. PTC had a negative net margin of 1.60% and a positive return on equity of 16.92%. The company had revenue of $289.70 million for the quarter, compared to analyst estimates of $288.77 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. PTC’s revenue was down 4.8% on a year-over-year basis. On average, analysts predict that PTC will post $1.38 earnings per share for the current year.
In other news, Director Donald K. Grierson sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were 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 approximately $2,949,010.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Matthew Lessner Cohen sold 8,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $42.57, for a total transaction of $340,560.00. Following the sale, the executive vice president now directly owns 14,607 shares of the company’s stock, valued at $621,819.99. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in PTC. Tower Research Capital LLC TRC boosted its stake in shares of PTC by 221.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,044 shares of the company’s stock valued at $114,000 after buying an additional 2,098 shares in the last quarter. US Bancorp DE boosted its stake in shares of PTC by 1.8% in the second quarter. US Bancorp DE now owns 3,595 shares of the company’s stock valued at $136,000 after buying an additional 65 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of PTC by 99.8% in the second quarter. Bessemer Group Inc. now owns 3,739 shares of the company’s stock valued at $140,000 after buying an additional 1,868 shares in the last quarter. World Asset Management Inc bought a new stake in shares of PTC during the second quarter valued at about $210,000. Finally, Calvert Investment Management Inc. bought a new stake in shares of PTC during the second quarter valued at about $225,000. 95.74% of the stock is owned by institutional investors.
PTC Company Profile
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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