PTC Inc. (NASDAQ:PTC)‘s stock had its “outperform” rating restated by analysts at Wedbush in a report released on Wednesday. They presently have a $52.00 price objective on the stock, up from their prior price objective of $46.00. Wedbush’s target price would indicate a potential upside of 15.30% from the stock’s current price.
A number of other analysts have also commented on the company. Zacks Investment Research raised PTC from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. Brean Capital began coverage on PTC in a research note on Friday, October 7th. They issued a “buy” rating for the company. Citigroup Inc. began coverage on PTC in a research note on Monday, August 1st. They issued a “buy” rating and a $48.00 price target for the company. Finally, Evercore ISI began coverage on PTC in a research note on Wednesday, September 14th. They issued a “buy” rating and a $50.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $42.89.
PTC (NASDAQ:PTC) traded down 0.11% during trading on Wednesday, reaching $45.05. 346,631 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $43.86 and a 200-day moving average of $38.83. PTC has a 12 month low of $27.06 and a 12 month high of $46.91. The stock’s market cap is $5.18 billion.
PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $288.77 million. PTC had a negative net margin of 1.60% and a positive return on equity of 16.92%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. On average, equities research analysts anticipate that PTC will post $1.34 earnings per share for the current fiscal year.
In other news, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 578,181 shares in the company, valued at $23,364,294.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Schechter sold 1,136 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $45.02, for a total value of $51,142.72. Following the transaction, the director now owns 60,035 shares of the company’s stock, valued at $2,702,775.70. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of PTC by 2.6% in the second quarter. Vanguard Group Inc. now owns 8,289,794 shares of the company’s stock valued at $311,531,000 after buying an additional 207,521 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of PTC by 4.5% in the second quarter. BlackRock Fund Advisors now owns 4,292,840 shares of the company’s stock valued at $161,325,000 after buying an additional 186,308 shares during the last quarter. Jennison Associates LLC increased its position in shares of PTC by 1.8% in the second quarter. Jennison Associates LLC now owns 3,591,550 shares of the company’s stock valued at $134,970,000 after buying an additional 62,504 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of PTC by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,400,570 shares of the company’s stock valued at $127,793,000 after buying an additional 57,166 shares during the last quarter. Finally, State Street Corp increased its position in shares of PTC by 1.1% in the first quarter. State Street Corp now owns 2,994,019 shares of the company’s stock valued at $99,277,000 after buying an additional 33,079 shares during the last quarter. Hedge funds and other institutional investors 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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