PTC Inc. (PTC) Given Outperform Rating at Wedbush
Wedbush restated their outperform rating on shares of PTC Inc. (NASDAQ:PTC) in a report issued on Wednesday morning. They currently have a $52.00 price objective on the stock, up from their previous price objective of $46.00.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of PTC from a sell rating to a hold rating in a report on Thursday, September 29th. Brean Capital started coverage on shares of PTC in a report on Friday, October 7th. They issued a buy rating for the company. Citigroup Inc. assumed coverage on shares of PTC in a report on Monday, August 1st. They issued a buy rating and a $48.00 price target for the company. Finally, Evercore ISI assumed coverage on shares of PTC in a report on Wednesday, September 14th. They set a buy rating and a $50.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $42.89.
Shares of PTC (NASDAQ:PTC) traded down 0.58% during mid-day trading on Wednesday, reaching $44.88. 142,447 shares of the company’s stock traded hands. The company’s market cap is $5.16 billion. PTC has a 12-month low of $27.06 and a 12-month high of $46.91. The company’s 50 day moving average is $43.93 and its 200 day moving average is $38.88.
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. The company earned $289.70 million during the quarter, compared to analysts’ expectations of $288.77 million. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 EPS. On average, analysts predict that PTC will post $1.34 EPS for the current fiscal year.
In other news, Director Robert Schechter sold 1,248 shares of PTC stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $39.98, for a total value of $49,895.04. Following the sale, the director now owns 61,171 shares in the company, valued at $2,445,616.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction dated 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 owns 74,829 shares in the company, valued at approximately $2,949,010.89. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors L.L.C. raised its stake in shares of PTC by 2.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 29,300 shares of the company’s stock valued at $972,000 after buying an additional 600 shares during the period. Pacad Investment Ltd. acquired a new position in PTC during the first quarter worth $295,000. Prudential Financial Inc. raised its position in PTC by 337.0% in the first quarter. Prudential Financial Inc. now owns 369,923 shares of the company’s stock worth $12,266,000 after buying an additional 285,280 shares during the last quarter. BlackRock Inc. raised its position in PTC by 1.9% in the first quarter. BlackRock Inc. now owns 170,626 shares of the company’s stock worth $5,657,000 after buying an additional 3,132 shares during the last quarter. Finally, BlackRock Group LTD raised its position in PTC by 1.6% in the first quarter. BlackRock Group LTD now owns 193,511 shares of the company’s stock worth $6,417,000 after buying an additional 2,962 shares during the last quarter. Institutional investors and hedge funds own 95.12% of the company’s stock.
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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