PTC Inc (PTC) Coverage Initiated at Benchmark Co.
Equities researchers at Benchmark Co. assumed coverage on shares of PTC Inc (NASDAQ:PTC) in a research note issued on Thursday. The firm set a “buy” rating and a $65.00 price target on the technology company’s stock. Benchmark Co.’s target price points to a potential upside of 25.90% from the company’s previous close.
Other analysts have also recently issued reports about the company. Evercore ISI set a $65.00 price objective on PTC and gave the stock a “buy” rating in a research report on Saturday, March 25th. Griffin Securities increased their price objective on PTC from $55.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, April 20th. Wedbush reaffirmed an “outperform” rating and set a $59.00 price objective on shares of PTC in a research report on Tuesday, April 11th. Guggenheim reaffirmed a “neutral” rating and set a $50.00 price objective on shares of PTC in a research report on Tuesday, April 18th. Finally, Zacks Investment Research raised PTC from a “sell” rating to a “hold” rating in a research report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. PTC has a consensus rating of “Buy” and an average target price of $60.93.
PTC (NASDAQ:PTC) opened at 51.63 on Thursday. The firm’s market capitalization is $5.97 billion. The firm has a 50-day moving average price of $52.99 and a 200-day moving average price of $51.14. PTC has a one year low of $34.64 and a one year high of $56.73.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, April 19th. The technology company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. PTC had a positive return on equity of 7.04% and a negative net margin of 3.50%. The company had revenue of $280 million during the quarter, compared to analysts’ expectations of $283.81 million. During the same period last year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts anticipate that PTC will post $1.21 earnings per share for the current year.
In related news, VP Staats Aaron C. Von sold 8,625 shares of PTC stock in a transaction on Monday, May 1st. The stock was sold at an average price of $54.38, for a total transaction of $469,027.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Phillip M. Fernandez sold 500 shares of PTC stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $55.62, for a total value 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. Insiders sold a total of 38,853 shares of company stock valued at $2,108,575 over the last three months. Insiders own 1.02% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of PTC by 10,192.0% in the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after buying an additional 10,203,410 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of PTC by 4.9% in the first quarter. Vanguard Group Inc. now owns 9,188,631 shares of the technology company’s stock valued at $482,863,000 after buying an additional 430,924 shares in the last quarter. FMR LLC boosted its position in shares of PTC by 115.0% in the first quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock valued at $270,642,000 after buying an additional 2,755,079 shares in the last quarter. State Street Corp boosted its position in shares of PTC by 2.0% in the first quarter. State Street Corp now owns 2,944,568 shares of the technology company’s stock valued at $154,737,000 after buying an additional 58,720 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of PTC during the first quarter valued at about $130,787,000. 97.51% of the stock is owned by hedge funds and other institutional investors.
PTC Company Profile
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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