PTC Inc. (PTC) Lifted to Hold at Zacks Investment Research
PTC Inc. (NASDAQ:PTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Other analysts have also issued research reports about the company. Evercore ISI started coverage on PTC in a research note 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 research note 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 research note on Friday, July 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $41.70.
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Shares of PTC (NASDAQ:PTC) traded down 0.67% on Wednesday, hitting $45.94. 579,783 shares of the stock were exchanged. The company has a 50 day moving average of $43.66 and a 200 day moving average of $38.59. The company’s market cap is $5.28 billion. PTC has a 52-week low of $27.06 and a 52-week high of $46.80.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The company earned $289.70 million during the quarter, compared to the consensus estimate of $288.77 million. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. Equities research analysts forecast that PTC will post $1.34 earnings per share for the current year.
In other PTC news, Director Robert Schechter sold 1,136 shares of the firm’s 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 transaction, the director now directly owns 60,035 shares of the company’s stock, valued at $2,702,775.70. The sale was disclosed in a legal filing 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 stock was sold at an average price of $40.42, for a total value of $354,847.18. Following the completion of the transaction, the director now directly owns 60,143 shares in the company, valued at $2,430,980.06. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Clovis Capital Management LP boosted its position in shares of PTC by 49.0% in the first quarter. Clovis Capital Management LP now owns 425,636 shares of the company’s stock valued at $14,114,000 after buying an additional 140,047 shares during the last quarter. M&T Bank Corp boosted its position in PTC by 18.3% in the first quarter. M&T Bank Corp now owns 10,386 shares of the company’s stock worth $345,000 after buying an additional 1,604 shares during the last quarter. Royce & Associates LP boosted its position in 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 last quarter. Palisade Capital Management LLC NJ boosted its position in PTC by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 320,417 shares of the company’s stock worth $10,625,000 after buying an additional 30,658 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its position in PTC by 1.2% in the first quarter. Champlain Investment Partners LLC now owns 1,547,500 shares of the company’s stock worth $51,315,000 after buying an additional 18,950 shares during the last quarter. 95.12% of the stock is currently owned by institutional investors and hedge funds.
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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