PTC Inc (NASDAQ:PTC) has been given a consensus rating of “Hold” by the twenty research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $91.00.
Several analysts have recently issued reports on PTC shares. Royal Bank of Canada cut PTC from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $110.00 to $85.00 in a research note on Thursday, July 25th. Guggenheim cut PTC from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Evercore ISI set a $104.00 price target on PTC and gave the company a “buy” rating in a research note on Wednesday, August 21st. Zacks Investment Research cut PTC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Mizuho cut their price target on PTC from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th.
In other PTC news, Director Donald K. Grierson sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $67.57, for a total transaction of $337,850.00. Following the transaction, the director now owns 49,797 shares of the company’s stock, valued at $3,364,783.29. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Corinna Lathan sold 843 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $64.48, for a total value of $54,356.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,593 shares of company stock worth $1,569,634. Corporate insiders own 9.91% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. River & Mercantile Asset Management LLP purchased a new stake in PTC in the 2nd quarter valued at approximately $2,012,000. Atria Investments LLC purchased a new stake in PTC in the 2nd quarter valued at approximately $750,000. BlackRock Inc. boosted its holdings in PTC by 6.0% in the 2nd quarter. BlackRock Inc. now owns 13,287,737 shares of the technology company’s stock valued at $1,192,707,000 after purchasing an additional 751,495 shares in the last quarter. Chartwell Investment Partners LLC boosted its holdings in PTC by 50.9% in the 2nd quarter. Chartwell Investment Partners LLC now owns 23,322 shares of the technology company’s stock valued at $2,093,000 after purchasing an additional 7,864 shares in the last quarter. Finally, Colony Group LLC boosted its holdings in PTC by 9.2% in the 2nd quarter. Colony Group LLC now owns 3,203 shares of the technology company’s stock valued at $288,000 after purchasing an additional 270 shares in the last quarter. 90.66% of the stock is currently owned by institutional investors.
PTC opened at $66.96 on Friday. The firm has a market cap of $7.67 billion, a P/E ratio of 74.40 and a beta of 1.14. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.57. PTC has a 52 week low of $62.05 and a 52 week high of $107.44. The business has a fifty day simple moving average of $66.18 and a 200-day simple moving average of $83.93.
PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.18. The business had revenue of $322.40 million for the quarter, compared to analysts’ expectations of $322.42 million. PTC had a return on equity of 10.44% and a net margin of 2.63%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. Sell-side analysts expect that PTC will post 1.09 earnings per share for the current year.
PTC Company Profile
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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