PTC (NASDAQ:PTC)‘s stock had its “buy” rating restated by stock analysts at Evercore ISI in a research report issued to clients and investors on Monday. They currently have a $95.00 target price on the technology company’s stock. Evercore ISI’s price objective would indicate a potential upside of 9.21% from the stock’s current price.
The analysts wrote, “We view this as strong step in PTC’s move beyond smart connected products in discrete manufacturing to better sell to the factory floor (process manufacturing). This also should open up PTC’s reach to verticals such as Oil & Pharma where the company has historically not had as significant a presence. Though this deal doesn’t appear to be exclusive, we believe that it does limit PTC’s ability to form other similar relationships (likely with Rockwell competitors). From an investment perspective we believe this is a strong indicator of the opportunity for PTC in Industrial IoT (IIoT) as we envision Rockwell did significant due diligence prior to making this level of investment. We look forward to hearing more about this opportunity at PTC’s LiveWorx event being held in 18 th . Remain Outperform rated with a $95 PT.””
A number of other research firms have also recently commented on PTC. Royal Bank of Canada restated a “buy” rating and issued a $85.00 price target on shares of PTC in a report on Sunday, April 15th. Wedbush restated an “outperform” rating and issued a $91.00 price target (up from $78.00) on shares of PTC in a report on Wednesday, March 14th. ValuEngine upgraded shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of PTC from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Finally, Robert W. Baird restated an “in-line” rating and issued a $95.00 price target (up from $83.00) on shares of PTC in a report on Thursday, April 19th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. PTC has a consensus rating of “Buy” and a consensus price target of $83.79.
PTC opened at $86.99 on Monday, Marketbeat Ratings reports. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69. PTC has a twelve month low of $52.20 and a twelve month high of $89.45. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 117.55, a PEG ratio of 2.73 and a beta of 1.34.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, April 18th. The technology company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The business had revenue of $307.88 million for the quarter, compared to analysts’ expectations of $302.90 million. PTC had a net margin of 3.16% and a return on equity of 10.04%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. analysts anticipate that PTC will post 0.83 EPS for the current fiscal year.
In related news, EVP Barry F. Cohen sold 70,000 shares of the company’s stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $84.13, for a total value of $5,889,100.00. Following the completion of the sale, the executive vice president now directly owns 58,164 shares of the company’s stock, valued at $4,893,337.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Staats Aaron C. Von sold 7,500 shares of the company’s stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $84.85, for a total transaction of $636,375.00. Following the completion of the sale, the vice president now directly owns 13,242 shares of the company’s stock, valued at $1,123,583.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,778 shares of company stock valued at $10,967,374. 1.19% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC purchased a new stake in shares of PTC during the fourth quarter valued at about $317,000. Allianz Asset Management GmbH lifted its position in shares of PTC by 1.1% during the fourth quarter. Allianz Asset Management GmbH now owns 1,476,429 shares of the technology company’s stock valued at $89,723,000 after buying an additional 16,149 shares during the last quarter. Swiss National Bank lifted its position in shares of PTC by 2.2% during the fourth quarter. Swiss National Bank now owns 197,000 shares of the technology company’s stock valued at $11,972,000 after buying an additional 4,200 shares during the last quarter. Bank of Montreal Can lifted its position in shares of PTC by 120.4% during the fourth 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 during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of PTC during the fourth quarter valued at about $5,740,000. 98.12% of the stock is owned by institutional investors.
PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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