PTC (NASDAQ:PTC) Price Target Cut to $149.00 by Analysts at Barclays

PTC (NASDAQ:PTC) had its price objective decreased by Barclays from $161.00 to $149.00 in a research report report published on Wednesday, The Fly reports. Barclays currently has an overweight rating on the technology company’s stock.

A number of other analysts have also recently issued reports on PTC. TheStreet cut PTC from a b+ rating to a c+ rating in a research report on Wednesday, July 28th. Mizuho lifted their price objective on PTC from $165.00 to $170.00 and gave the company a buy rating in a research report on Thursday, July 29th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $137.83.

Shares of PTC stock opened at $120.68 on Wednesday. The stock has a market cap of $14.17 billion, a PE ratio of 60.04, a price-to-earnings-growth ratio of 2.34 and a beta of 1.21. The business has a fifty day simple moving average of $126.61 and a 200-day simple moving average of $134.12. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.86. PTC has a 12 month low of $79.36 and a 12 month high of $153.73.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 28th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.50. The firm had revenue of $435.67 million during the quarter, compared to analysts’ expectations of $411.43 million. PTC had a return on equity of 18.25% and a net margin of 13.82%. Analysts expect that PTC will post 2.32 EPS for the current fiscal year.

In related news, EVP Staats Aaron C. Von sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $134.32, for a total value of $235,060.00. Following the completion of the transaction, the executive vice president now owns 21,792 shares in the company, valued at approximately $2,927,101.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $132.92, for a total transaction of $664,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,750 shares of company stock worth $2,896,760. 10.02% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the business. Great West Life Assurance Co. Can increased its position in shares of PTC by 1.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 99,282 shares of the technology company’s stock valued at $13,607,000 after buying an additional 1,657 shares in the last quarter. Logan Capital Management Inc. increased its position in shares of PTC by 16.3% in the 1st quarter. Logan Capital Management Inc. now owns 10,379 shares of the technology company’s stock valued at $1,429,000 after buying an additional 1,457 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of PTC by 0.4% in the 2nd quarter. Baird Financial Group Inc. now owns 529,814 shares of the technology company’s stock valued at $74,842,000 after buying an additional 1,907 shares in the last quarter. Marcum Wealth LLC bought a new stake in shares of PTC in the 2nd quarter valued at $235,000. Finally, Brown Advisory Inc. increased its position in shares of PTC by 3.8% in the 1st quarter. Brown Advisory Inc. now owns 6,788 shares of the technology company’s stock valued at $934,000 after buying an additional 249 shares in the last quarter. Institutional investors own 84.67% of the company’s stock.

About PTC

PTC, Inc engages in the development and provision of software-based product management and development solutions. It operates through the following segments: Software products and Professional Services. The Software Products segment includes license, subscription and related support revenue for its products.

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