PTC (PTC) Upgraded by Bank of America to Neutral

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.

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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.

Analyst Recommendations for PTC (NASDAQ:PTC)

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