Seaport Global Securities restated their buy rating on shares of PTC (NASDAQ:PTC) in a research note released on Friday. The brokerage currently has a $83.00 target price on the technology company’s stock.
Several other research analysts have also recently issued reports on the stock. Wedbush reissued an outperform rating and set a $57.00 price target on shares of PTC in a report on Thursday, October 5th. Bank of America initiated coverage on shares of PTC in a report on Monday, November 6th. They set an underperform rating and a $60.00 price target for the company. JPMorgan Chase & Co. cut shares of PTC from an overweight rating to a neutral rating and set a $68.00 price target for the company. in a report on Tuesday, December 12th. Royal Bank of Canada reissued a buy rating and set a $74.00 price target on shares of PTC in a report on Friday, October 27th. Finally, BidaskClub raised shares of PTC from a buy rating to a strong-buy rating in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $70.81.
PTC (PTC) traded up $1.51 during midday trading on Friday, reaching $71.46. 2,175,900 shares of the company traded hands, compared to its average volume of 1,223,992. The stock has a market capitalization of $8,420.00, a PE ratio of 297.75, a P/E/G ratio of 2.54 and a beta of 1.34. PTC has a 52-week low of $49.12 and a 52-week high of $74.88. The company has a quick ratio of 0.98, a current ratio of 1.10 and a debt-to-equity ratio of 0.84.
PTC (NASDAQ:PTC) last posted its quarterly 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. The firm had revenue of $306.44 million during the quarter, compared to analysts’ expectations of $300.17 million. PTC had a net margin of 2.47% and a return on equity of 9.29%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. equities research analysts predict that PTC will post 0.78 earnings per share for the current year.
In other news, EVP Anthony Dibona sold 4,920 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $64.58, for a total value of $317,733.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Schechter sold 1,128 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.88, for a total transaction of $75,440.64. Following the completion of the sale, the director now owns 64,826 shares in the company, valued at $4,335,562.88. The disclosure for this sale can be found here. Insiders have sold 55,924 shares of company stock worth $3,627,304 over the last 90 days. 1.02% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Tributary Capital Management LLC acquired a new stake in shares of PTC in the third quarter valued at approximately $109,000. Boston Financial Mangement LLC boosted its position in PTC by 7.6% during the third quarter. Boston Financial Mangement LLC now owns 102,462 shares of the technology company’s stock worth $5,767,000 after acquiring an additional 7,217 shares during the last quarter. Rational Advisors LLC acquired a new stake in PTC during the third quarter worth approximately $1,888,000. Voya Investment Management LLC boosted its position in PTC by 11.9% during the second quarter. Voya Investment Management LLC now owns 44,712 shares of the technology company’s stock worth $2,465,000 after acquiring an additional 4,765 shares during the last quarter. Finally, Lagoda Investment Management L.P. boosted its position in PTC by 6.7% during the third quarter. Lagoda Investment Management L.P. now owns 135,038 shares of the technology company’s stock worth $7,600,000 after acquiring an additional 8,510 shares during the last quarter. Institutional investors and hedge funds own 99.91% of the company’s stock.
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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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