Bank of America upgraded shares of PTC (NASDAQ:PTC) from an underperform rating to a neutral rating in a research report released on Thursday, January 18th, Marketbeat reports. They currently have $60.00 target price on the technology company’s stock.
PTC has been the subject of several other research reports. Evercore ISI set a $65.00 price target on shares of PTC and gave the stock a buy rating in a research report on Thursday, October 19th. Citigroup upped their price target on shares of PTC to $78.00 and gave the stock a buy rating in a research report on Thursday, January 18th. Royal Bank of Canada reiterated a buy rating and issued a $74.00 price objective on shares of PTC in a report on Friday, October 27th. Robert W. Baird set a $65.00 price objective on shares of PTC and gave the company a buy rating in a report on Friday, October 6th. Finally, BidaskClub downgraded shares of PTC from a hold rating to a sell rating in a report on Thursday, December 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $70.81.
Shares of PTC (NASDAQ:PTC) opened at $68.44 on Thursday. PTC has a 1-year low of $50.68 and a 1-year high of $74.88. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.84. The firm has a market cap of $7,950.00, a price-to-earnings ratio of 285.17, a PEG ratio of 2.41 and a beta of 1.49.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $306.44 million for the quarter, compared to analyst estimates of $300.17 million. PTC had a net margin of 2.47% and a return on equity of 9.29%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. analysts predict that PTC will post 0.78 EPS for the current fiscal year.
In other news, EVP Anthony Dibona sold 5,464 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $73.97, for a total value of $404,172.08. Following the sale, the executive vice president now directly owns 36,317 shares in the company, valued at approximately $2,686,368.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $72.34, for a total transaction of $1,808,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,260 shares of company stock worth $5,501,295. 1.19% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Tributary Capital Management LLC acquired a new stake in PTC during the 3rd quarter worth $109,000. Boston Financial Mangement LLC raised its stake in PTC by 7.6% during the 3rd 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 in the last quarter. Rational Advisors LLC acquired a new stake in PTC during the 3rd quarter worth $1,888,000. Voya Investment Management LLC raised its stake in PTC by 11.9% during the 2nd 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 in the last quarter. Finally, Lagoda Investment Management L.P. raised its stake in PTC by 6.7% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This story was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/13/ptc-ptc-raised-to-neutral-at-bank-of-america.html.
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.
Receive News & Ratings for PTC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC and related companies with MarketBeat.com's FREE daily email newsletter.