PTC Inc. (PTC) Given “Outperform” Rating at Wedbush
PTC Inc. (NASDAQ:PTC)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a report released on Wednesday. They presently have a $52.00 price target on the stock, up from their previous price target of $46.00. Wedbush’s price target indicates a potential upside of 15.30% from the stock’s current price.
Several other brokerages also recently commented on PTC. Brean Capital assumed coverage on shares of PTC in a research report on Friday, October 7th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of PTC from a “sell” rating to a “hold” rating in a research report on Wednesday, October 5th. Evercore ISI assumed coverage on shares of PTC in a research report on Wednesday, September 14th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Citigroup Inc. assumed coverage on shares of PTC in a research report on Monday, August 1st. They set a “buy” rating and a $48.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $42.89.
PTC (NASDAQ:PTC) traded down 0.07% during mid-day trading on Wednesday, hitting $45.07. 351,981 shares of the stock traded hands. PTC has a 1-year low of $27.06 and a 1-year high of $46.91. The company’s 50 day moving average price is $43.86 and its 200-day moving average price is $38.83. The stock’s market cap is $5.18 billion.
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PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.05. The business earned $289.70 million during 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 period in the prior year, the company earned $0.53 earnings per share. Analysts predict that PTC will post $1.34 earnings per share for the current year.
In other news, EVP Anthony Dibona sold 3,238 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $40.26, for a total value of $130,361.88. Following the transaction, the executive vice president now owns 22,051 shares in the company, valued at approximately $887,773.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Schechter sold 1,248 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $39.98, for a total transaction of $49,895.04. Following the completion of the transaction, the director now owns 61,171 shares in the company, valued at approximately $2,445,616.58. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of PTC. First National Bank of Omaha boosted its position in shares of PTC by 0.3% in the third quarter. First National Bank of Omaha now owns 56,565 shares of the company’s stock valued at $2,506,000 after buying an additional 190 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of PTC by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 39,129 shares of the company’s stock valued at $1,734,000 after buying an additional 790 shares during the period. Capital Investment Services of America Inc. boosted its position in shares of PTC by 19.1% in the third quarter. Capital Investment Services of America Inc. now owns 303,475 shares of the company’s stock valued at $13,447,000 after buying an additional 48,603 shares during the period. Macquarie Group Ltd. boosted its position in shares of PTC by 6.4% in the second quarter. Macquarie Group Ltd. now owns 1,355,918 shares of the company’s stock valued at $50,955,000 after buying an additional 81,080 shares during the period. Finally, Mason Street Advisors LLC acquired a new position in shares of PTC during the second quarter valued at $1,964,000. Hedge funds and other institutional investors 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.
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