PTC (PTC) Raised to Neutral at Bank of America

Bank of America upgraded shares of PTC (NASDAQ:PTC) from an underperform rating to a neutral rating in a report issued on Thursday morning, Marketbeat.com reports. The firm currently has $60.00 price objective on the technology company’s stock.

PTC has been the subject of several other research reports. Evercore ISI set a $75.00 target price on PTC and gave the stock a buy rating in a research report on Thursday, October 26th. Robert W. Baird set a $65.00 target price on PTC and gave the stock a buy rating in a research report on Friday, October 6th. Wedbush reiterated an outperform rating and set a $57.00 target price on shares of PTC in a research report on Thursday, October 5th. Barclays increased their target price on PTC from $65.00 to $69.00 and gave the stock an overweight rating in a research report on Thursday, October 26th. Finally, BidaskClub cut PTC from a hold rating to a sell rating in a research report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $70.81.

Shares of PTC (NASDAQ PTC) traded up $1.51 on Thursday, reaching $71.46. The company’s stock had a trading volume of 2,180,000 shares, compared to its average volume of 1,030,000. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.98 and a current ratio of 1.10. The stock has a market capitalization of $8,300.00, a PE ratio of 297.75 and a beta of 1.34. PTC has a fifty-two week low of $49.12 and a fifty-two week high of $74.88.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, January 17th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. PTC had a return on equity of 9.29% and a net margin of 2.47%. The firm had revenue of $306.44 million during the quarter, compared to analysts’ expectations of $300.17 million. During the same quarter last year, the business posted $0.26 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. equities research analysts forecast that PTC will post 0.78 EPS for the current year.

In other PTC news, Director Robert Schechter sold 1,128 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.88, for a total transaction of $75,440.64. Following the completion of the transaction, the director now owns 64,826 shares in the company, valued at approximately $4,335,562.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Anthony Dibona sold 10,929 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $65.25, for a total value of $713,117.25. The disclosure for this sale can be found here. Insiders have sold a total of 55,924 shares of company stock valued at $3,627,304 in the last 90 days. 1.11% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new position in PTC during the 4th quarter valued at approximately $510,000. Oakbrook Investments LLC grew its holdings in PTC by 19.1% during the 4th quarter. Oakbrook Investments LLC now owns 9,470 shares of the technology company’s stock valued at $575,000 after buying an additional 1,520 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in PTC by 2.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 472,552 shares of the technology company’s stock valued at $28,717,000 after buying an additional 11,110 shares in the last quarter. Bank of Montreal Can grew its holdings in PTC by 120.4% during the 4th quarter. Bank of Montreal Can now owns 16,212 shares of the technology company’s stock valued at $985,000 after buying an additional 8,857 shares in the last quarter. Finally, AXA lifted its stake in shares of PTC by 15.9% in the 3rd quarter. AXA now owns 1,161,468 shares of the technology company’s stock valued at $65,367,000 after purchasing an additional 159,329 shares during the last quarter.

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About PTC

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.

Analyst Recommendations for PTC (NASDAQ:PTC)

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