PTC Inc. (PTC) Receives Average Rating of “Buy” from Analysts
PTC Inc. (NASDAQ:PTC) has earned a consensus recommendation of “Buy” from the twelve research firms that are covering the company. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $42.75.
PTC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of PTC from a “sell” rating to a “hold” rating in a report on Thursday, September 29th. Brean Capital initiated coverage on shares of PTC in a report on Friday, October 7th. They issued a “buy” rating for the company. Citigroup Inc. initiated coverage on shares of PTC in a report on Monday, August 1st. They issued a “buy” rating and a $48.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $43.00 price target on shares of PTC in a report on Friday, July 15th. Finally, Evercore ISI began coverage on shares of PTC in a report on Wednesday, September 14th. They issued a “buy” rating and a $50.00 price target for the company.
In other news, EVP Anthony Dibona sold 3,238 shares of PTC stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $40.26, for a total value of $130,361.88. Following the sale, the executive vice president now owns 22,051 shares in the company, valued at $887,773.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of PTC stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $40.41, for a total transaction of $1,010,250.00. Following the completion of the sale, the insider now owns 578,181 shares in the company, valued at approximately $23,364,294.21. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.
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Several hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of 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 during the period. US Bancorp DE raised its stake in shares of 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 during the period. Bessemer Group Inc. raised its stake in shares of 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 during the period. World Asset Management Inc bought a new stake in shares of PTC during the second quarter valued at about $210,000. Finally, Calvert Investment Management Inc. bought a new stake in shares of PTC during the second quarter valued at about $225,000. Institutional investors and hedge funds own 95.12% of the company’s stock.
Shares of PTC (NASDAQ:PTC) traded down 0.13% during midday trading on Wednesday, hitting $45.04. 320,751 shares of the stock were exchanged. PTC has a 12 month low of $27.06 and a 12 month high of $46.91. The firm’s 50-day moving average is $43.86 and its 200-day moving average is $38.83. The stock’s market cap is $5.18 billion.
PTC (NASDAQ:PTC) last announced its earnings results 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 firm earned $289.70 million during the quarter, compared to analyst estimates of $288.77 million. PTC had a negative net margin of 1.60% and a positive return on equity of 16.92%. PTC’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. Equities research analysts predict that PTC will post $1.34 earnings per share for the current year.
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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