PTC Inc. (PTC) Stock Rating Upgraded by Zacks Investment Research
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. “
Several other research analysts have also commented on the company. Evercore ISI began coverage on 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. began coverage on PTC in a research report on Monday, August 1st. They set a buy rating and a $48.00 price target for the company. Finally, Wedbush restated an outperform rating and set a $43.00 price target on shares of PTC in a research report on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $41.89.
PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by $0.05. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. The firm had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $288.77 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s quarterly revenue was down 4.8% on a year-over-year basis.
In other PTC news, Director Robert Schechter sold 1,248 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $39.98, for a total transaction of $49,895.04. Following the transaction, the director now owns 61,171 shares of the company’s stock, valued at $2,445,616.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $40.41, for a total value of $1,010,250.00. Following the transaction, the insider now directly owns 578,181 shares in the company, valued at approximately $23,364,294.21. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC raised its position in shares of 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. Marshall Wace LLP raised its position in PTC by 66.9% in the second quarter. Marshall Wace LLP now owns 1,456,791 shares of the company’s stock worth $54,746,000 after buying an additional 584,103 shares in the last quarter. Royce & Associates LP raised its position in PTC by 35.5% in the first quarter. Royce & Associates LP now owns 1,589,100 shares of the company’s stock worth $52,695,000 after buying an additional 416,000 shares in the last quarter. Chartwell Investment Partners LLC raised its position in PTC by 220.4% in the second quarter. Chartwell Investment Partners LLC now owns 518,534 shares of the company’s stock worth $19,487,000 after buying an additional 356,710 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in PTC by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,360,836 shares of the company’s stock worth $78,286,000 after buying an additional 346,444 shares in the last quarter. 95.12% of the stock is currently 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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