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. “
Several other analysts also recently commented on the stock. Evercore ISI began coverage on shares of PTC in a research report on Wednesday, September 14th. They issued a buy rating and a $50.00 price target for the company. Citigroup Inc. began coverage on shares of PTC in a research note on Monday, August 1st. They issued a buy rating and a $48.00 price objective on the stock. Finally, Wedbush reissued an outperform rating and issued a $43.00 price objective on shares of PTC in a research note on Friday, July 15th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $41.70.
Shares of PTC (NASDAQ:PTC) traded up 0.30% during mid-day trading on Thursday, reaching $44.01. 214,505 shares of the company’s stock traded hands. The company’s 50 day moving average is $43.03 and its 200 day moving average is $38.02. The company’s market cap is $5.06 billion. PTC has a 12-month low of $27.06 and a 12-month high of $44.75.
PTC (NASDAQ:PTC) last issued 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. The company had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $288.77 million. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, analysts predict that PTC will post $1.38 EPS for the current fiscal year.
In related news, insider James E. Heppelmann sold 25,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $40.41, for a total value of $1,010,250.00. Following the sale, the insider now directly owns 578,181 shares in the company, valued at approximately $23,364,294.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Matthew Lessner Cohen sold 8,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $42.57, for a total transaction of $340,560.00. Following the completion of the sale, the executive vice president now owns 14,607 shares in the company, valued at $621,819.99. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PTC. Tower Research Capital LLC TRC raised 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 valued at $114,000 after buying an additional 2,098 shares in the last quarter. US Bancorp DE raised its stake in PTC by 1.8% in the second quarter. US Bancorp DE now owns 3,595 shares of the company’s stock valued at $136,000 after buying an additional 65 shares in the last quarter. Bessemer Group Inc. raised its stake in PTC by 99.8% in the second quarter. Bessemer Group Inc. now owns 3,739 shares of the company’s stock valued at $140,000 after buying an additional 1,868 shares in the last quarter. World Asset Management Inc acquired a new stake in PTC during the second quarter valued at approximately $210,000. Finally, Calvert Investment Management Inc. acquired a new stake in PTC during the second quarter valued at approximately $225,000. Institutional investors and hedge funds own 95.12% of the company’s stock.
PTC Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PTC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.