PTC Inc. (PTC) Given Average Recommendation of “Buy” by Brokerages
Shares of PTC Inc. (NASDAQ:PTC) have been assigned an average recommendation of “Buy” from the eighteen research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $63.31.
A number of brokerages have weighed in on PTC. Goldman Sachs Group, Inc. (The) began coverage on shares of PTC in a research report on Monday, July 17th. They set a “neutral” rating and a $62.00 target price for the company. J P Morgan Chase & Co reiterated an “overweight” rating and set a $68.00 target price on shares of PTC in a research report on Thursday, July 20th. BidaskClub upgraded shares of PTC from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Evercore ISI set a $65.00 target price on shares of PTC and gave the stock a “buy” rating in a research report on Monday, August 28th. Finally, Robert W. Baird reiterated a “buy” rating and set a $65.00 target price on shares of PTC in a research report on Thursday, August 31st.
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In other news, VP Staats Aaron C. Von sold 5,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $55.26, for a total value of $317,745.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald K. Grierson sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $53.77, for a total transaction of $268,850.00. Following the completion of the transaction, the director now owns 62,300 shares of the company’s stock, valued at $3,349,871. The disclosure for this sale can be found here. Insiders sold 65,329 shares of company stock valued at $3,588,097 over the last 90 days. 1.11% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas raised its stake in PTC by 0.6% in the second quarter. Teacher Retirement System of Texas now owns 9,250 shares of the technology company’s stock valued at $510,000 after purchasing an additional 54 shares in the last quarter. Advisor Group Inc. raised its stake in PTC by 7.4% in the second quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after purchasing an additional 186 shares in the last quarter. Utah Retirement Systems raised its stake in PTC by 1.0% in the second quarter. Utah Retirement Systems now owns 21,000 shares of the technology company’s stock valued at $1,158,000 after purchasing an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PTC by 6.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,092 shares of the technology company’s stock valued at $226,000 after purchasing an additional 247 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. raised its stake in PTC by 4.8% in the second quarter. Campbell Newman Asset Management Inc. now owns 5,860 shares of the technology company’s stock valued at $323,000 after purchasing an additional 267 shares in the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of PTC (NASDAQ PTC) traded up 0.42% during mid-day trading on Thursday, hitting $59.58. 880,905 shares of the company traded hands. The stock’s market capitalization is $6.89 billion. PTC has a one year low of $43.10 and a one year high of $60.22. The firm has a 50-day moving average of $56.15 and a 200-day moving average of $55.30.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.28. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The business had revenue of $291.92 million during the quarter, compared to the consensus estimate of $290.55 million. During the same quarter last year, the company posted $0.26 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts predict that PTC will post $1.20 earnings per share for the current year.
PTC declared that its board has approved a share repurchase plan on Tuesday, September 19th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to purchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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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