PTC Inc (PTC) Issues FY17 Earnings Guidance
PTC Inc (NASDAQ:PTC) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.13-1.23 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.26. The company issued revenue guidance of $1.16-1.17 billion, compared to the consensus revenue estimate of $1.18 billion.PTC also updated its Q3 guidance to $0.24-0.29 EPS.
Shares of PTC Inc (NASDAQ:PTC) traded up 0.86% during trading on Wednesday, reaching $53.69. The company had a trading volume of 2,309,421 shares. The stock’s market capitalization is $6.21 billion. PTC Inc has a 1-year low of $33.40 and a 1-year high of $56.73. The company’s 50 day moving average is $53.71 and its 200-day moving average is $49.97.
Several research analysts recently weighed in on PTC shares. Royal Bank of Canada upped their price target on shares of PTC from $55.00 to $62.00 and gave the stock an outperform rating in a research report on Friday, March 24th. Zacks Investment Research downgraded shares of PTC from a hold rating to a sell rating in a research report on Wednesday, January 18th. Wedbush restated an outperform rating and set a $59.00 price target on shares of PTC in a research report on Friday, March 3rd. Barclays PLC set a $60.00 price target on shares of PTC and gave the stock a buy rating in a research report on Thursday, January 19th. Finally, Evercore ISI set a $65.00 price target on shares of PTC and gave the stock a buy rating in a research report on Saturday, March 25th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $57.62.
In other PTC news, Director Phillip M. Fernandez sold 500 shares of the stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $55.62, for a total value of $27,810.00. Following the completion of the sale, the director now owns 12,575 shares in the company, valued at approximately $699,421.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry F. Cohen sold 30,000 shares of the stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $52.41, for a total transaction of $1,572,300.00. Following the completion of the sale, the executive vice president now owns 107,103 shares of the company’s stock, valued at approximately $5,613,268.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,581 shares of company stock valued at $4,310,926. 1.02% of the stock is owned by insiders.
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PTC Company Profile
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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