PTC has been the subject of several other reports. Zacks Investment Research raised PTC from a sell rating to a hold rating in a report on Tuesday, September 20th. Evercore ISI started coverage on PTC in a report on Wednesday, September 14th. They set a buy rating and a $50.00 price objective for the company. Citigroup Inc. started coverage on PTC in a report on Monday, August 1st. They set a buy rating and a $48.00 price objective for the company. Finally, Wedbush reissued an outperform rating and set a $43.00 price objective on shares of PTC in a report on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. PTC presently has an average rating of Buy and an average target price of $41.89.
PTC (NASDAQ:PTC) traded up 0.59% during trading on Friday, hitting $46.21. The stock had a trading volume of 279,303 shares. The stock’s market capitalization is $5.31 billion. PTC has a 52 week low of $27.06 and a 52 week high of $46.91. The company has a 50-day moving average of $43.66 and a 200-day moving average of $38.59.
PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.05. PTC had a negative net margin of 1.60% and a positive return on equity of 16.92%. The firm had revenue of $289.70 million for the quarter, compared to the consensus estimate of $288.77 million. During the same period last year, the company posted $0.53 earnings per share. PTC’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities analysts expect that PTC will post $1.34 earnings per share for the current fiscal year.
In other PTC news, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $40.41, for a total transaction of $1,010,250.00. Following the sale, the insider now owns 578,181 shares in the company, valued at $23,364,294.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul A. Lacy sold 8,779 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $40.42, for a total value of $354,847.18. Following the sale, the director now owns 60,143 shares in the company, valued at approximately $2,430,980.06. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its stake in PTC by 221.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,044 shares of the company’s stock worth $114,000 after buying an additional 2,098 shares during the last quarter. US Bancorp DE increased its stake in PTC by 1.8% in the second quarter. US Bancorp DE now owns 3,595 shares of the company’s stock worth $136,000 after buying an additional 65 shares during the last quarter. Bessemer Group Inc. increased its stake in PTC by 99.8% in the second quarter. Bessemer Group Inc. now owns 3,739 shares of the company’s stock worth $140,000 after buying an additional 1,868 shares during the last quarter. World Asset Management Inc purchased a new stake in PTC during the second quarter worth $210,000. Finally, Calvert Investment Management Inc. purchased a new stake in PTC during the second quarter worth $225,000. Institutional investors and hedge funds own 95.12% of the company’s stock.
PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.
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