PTC Inc. (PTC) Research Coverage Started at Brean Capital
Brean Capital started coverage on shares of PTC Inc. (NASDAQ:PTC) in a research report issued on Friday. The brokerage set a “buy” rating on the stock.
Several other brokerages also recently issued reports on PTC. Zacks Investment Research upgraded PTC from a “sell” rating to a “hold” rating in a report on Tuesday, September 20th. Citigroup Inc. started coverage on PTC in a report on Monday, August 1st. They set a “buy” rating and a $48.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $43.00 price target on shares of PTC in a report on Friday, July 15th. Finally, Evercore ISI started coverage on PTC in a report on Wednesday, September 14th. They set a “buy” rating and a $50.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $41.70.
PTC (NASDAQ:PTC) opened at 45.94 on Friday. The company’s market cap is $5.28 billion. The firm’s 50-day moving average price is $43.66 and its 200 day moving average price is $38.59. PTC has a 52-week low of $27.06 and a 52-week high of $46.80.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/ptc-inc-ptc-earns-buy-rating-from-analysts-at-brean-capital-2.html
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.05. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. The company had revenue of $289.70 million for the quarter, compared to the consensus estimate of $288.77 million. During the same quarter last year, the company posted $0.53 EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, equities analysts predict that PTC will post $1.34 EPS for the current fiscal year.
In related news, Director Paul A. Lacy sold 8,779 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $40.42, for a total transaction of $354,847.18. Following the sale, the director now owns 60,143 shares of the company’s stock, valued at approximately $2,430,980.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Schechter sold 1,136 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $45.02, for a total value of $51,142.72. Following the sale, the director now directly owns 60,035 shares in the company, valued at approximately $2,702,775.70. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Citadel Advisors LLC boosted its stake in shares of PTC by 582.3% in the second quarter. Citadel Advisors LLC now owns 1,611,643 shares of the company’s stock worth $60,566,000 after buying an additional 1,375,422 shares during the period. Marshall Wace LLP boosted its stake in shares of PTC by 66.9% in the second quarter. Marshall Wace LLP now owns 1,456,791 shares of the company’s stock worth $54,746,000 after buying an additional 584,103 shares during the period. Royce & Associates LP boosted its stake in shares of PTC by 35.5% in the first quarter. Royce & Associates LP now owns 1,589,100 shares of the company’s stock worth $52,695,000 after buying an additional 416,000 shares during the period. Chartwell Investment Partners LLC boosted its stake in shares of PTC by 220.4% in the second quarter. Chartwell Investment Partners LLC now owns 518,534 shares of the company’s stock worth $19,487,000 after buying an additional 356,710 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of PTC by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,360,836 shares of the company’s stock worth $78,286,000 after buying an additional 346,444 shares during the period. 95.12% of the stock is currently owned by institutional investors and hedge funds.
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.
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.