Zacks Investment Research downgraded shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a research note released on Friday, Zacks.com reports.
According to Zacks, “PTC Inc. develops, markets, and supports software solutions. The company offers enterprise solutions and desktop solutions. Its principal Enterprise Solutions are Windchill, Arbortext, Creo View and Integrity. The Company’s Desktop Solutions include its integrated Creo software suite, its Mathcad engineering calculations software and its Arbortext document authoring tools. It also offers consultation, implementation, training, and maintenance services. PTC Inc., formerly known as Parametric Technology Corporation, is headquartered in Needham, Massachusetts. “
A number of other equities analysts also recently weighed in on PTC. TheStreet raised shares of Viacom from a c+ rating to a b- rating in a research note on Wednesday, April 24th. Deutsche Bank decreased their target price on shares of Xilinx from $125.00 to $120.00 and set a hold rating for the company in a research note on Thursday, April 25th. Wedbush reaffirmed an outperform rating on shares of Alphabet in a research note on Thursday, April 25th. JPMorgan Chase & Co. reaffirmed a hold rating and set a $7.00 target price on shares of Deutsche Bank in a research note on Thursday, April 25th. Finally, Bank of America reaffirmed an underperform rating and set a $86.00 target price on shares of PTC in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $101.08.
PTC stock opened at $87.99 on Friday. PTC has a 1 year low of $76.67 and a 1 year high of $107.44. The company has a market capitalization of $10.12 billion, a P/E ratio of 97.77, a P/E/G ratio of 2.60 and a beta of 1.19. The business has a 50-day moving average of $88.49. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.
PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. PTC had a net margin of 3.06% and a return on equity of 11.68%. The company had revenue of $315.50 million during the quarter, compared to the consensus estimate of $312.29 million. During the same period in the prior year, the firm earned $0.34 earnings per share. PTC’s revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that PTC will post 1.05 earnings per share for the current year.
In other news, insider James E. Heppelmann sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $89.02, for a total transaction of $1,335,300.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 16,050 shares of company stock worth $1,430,916. Corporate insiders own 9.91% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in PTC in the first quarter worth approximately $5,897,000. Cleararc Capital Inc. purchased a new stake in PTC in the first quarter worth approximately $252,000. Norges Bank purchased a new stake in PTC in the fourth quarter worth approximately $197,240,000. American Century Companies Inc. boosted its holdings in PTC by 49.3% in the fourth quarter. American Century Companies Inc. now owns 942,970 shares of the technology company’s stock worth $78,172,000 after purchasing an additional 311,508 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in PTC in the first quarter worth approximately $467,000. Institutional investors own 92.46% of the company’s stock.
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; 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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