Several other brokerages have also recently weighed in on PTC. Wedbush reissued an outperform rating and set a $59.00 price target on shares of PTC in a research report on Friday, March 3rd. Seaport Global Securities began coverage on shares of PTC in a research report on Wednesday, March 1st. They set a buy rating and a $69.00 price target for the company. Zacks Investment Research raised shares of PTC from a sell rating to a hold rating in a research report on Wednesday, January 25th. Mitsubishi UFJ Financial Group reissued a neutral rating on shares of PTC in a research report on Thursday, January 19th. Finally, Brean Capital reissued a buy rating and set a $62.00 price target on shares of PTC in a research report on Thursday, December 15th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $58.25.
PTC (NASDAQ:PTC) traded up 0.25% during midday trading on Friday, hitting $52.07. 941,098 shares of the stock traded hands. PTC has a 52 week low of $31.58 and a 52 week high of $56.73. The stock’s market capitalization is $6.03 billion. The stock’s 50-day moving average price is $54.69 and its 200-day moving average price is $48.86.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, January 18th. The company reported $0.26 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The business earned $286 million during the quarter, compared to analysts’ expectations of $287.11 million. PTC had a negative net margin of 3.50% and a positive return on equity of 7.04%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. Equities research analysts expect that PTC will post $1.26 EPS for the current fiscal year.
In related news, Director Paul A. Lacy sold 6,028 shares of PTC stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $50.00, for a total transaction of $301,400.00. Following the completion of the transaction, the director now directly owns 54,115 shares of the company’s stock, valued at approximately $2,705,750. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Phillip M. Fernandez sold 500 shares of PTC stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $55.62, for a total transaction of $27,810.00. Following the transaction, the director now directly owns 12,575 shares of the company’s stock, valued at $699,421.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,581 shares of company stock valued at $4,310,926. 1.02% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Epoch Investment Partners Inc. boosted its position in shares of PTC by 102.7% in the third quarter. Epoch Investment Partners Inc. now owns 4,704,111 shares of the company’s stock worth $208,439,000 after buying an additional 2,383,542 shares during the period. BlackRock Fund Advisors boosted its position in shares of PTC by 3.8% in the third quarter. BlackRock Fund Advisors now owns 4,455,776 shares of the company’s stock worth $197,435,000 after buying an additional 162,936 shares during the period. Praesidium Investment Management Company LLC boosted its position in shares of PTC by 0.6% in the third quarter. Praesidium Investment Management Company LLC now owns 2,314,799 shares of the company’s stock worth $102,569,000 after buying an additional 14,534 shares during the period. Marshall Wace LLP boosted its position in shares of PTC by 22.7% in the fourth quarter. Marshall Wace LLP now owns 1,908,300 shares of the company’s stock worth $88,297,000 after buying an additional 352,787 shares during the period. Finally, Palestra Capital Management LLC boosted its position in shares of PTC by 4.5% in the third quarter. Palestra Capital Management LLC now owns 1,762,522 shares of the company’s stock worth $78,097,000 after buying an additional 75,100 shares during the period. 97.51% of the stock is owned by institutional investors.
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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