PTC (NASDAQ:PTC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research analysts also recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of PTC in a research note on Thursday, October 5th. Evercore ISI set a $65.00 price objective on PTC and gave the stock a “buy” rating in a research note on Monday, August 28th. Bank of America initiated coverage on PTC in a research note on Monday, November 6th. They issued an “underperform” rating and a $60.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $74.00 price objective on shares of PTC in a research note on Friday, October 27th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $65.00 price objective on shares of PTC in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $65.88.

PTC (NASDAQ PTC) traded up $0.79 during mid-day trading on Thursday, reaching $62.31. The company’s stock had a trading volume of 845,762 shares, compared to its average volume of 1,192,025. PTC has a 52 week low of $45.72 and a 52 week high of $67.12. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $7,145.19, a P/E ratio of 104.29 and a beta of 1.33.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). PTC had a net margin of 0.54% and a return on equity of 8.08%. The firm had revenue of $306.38 million during the quarter, compared to the consensus estimate of $306.59 million. During the same period in the prior year, the company posted $0.20 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. sell-side analysts anticipate that PTC will post 0.81 EPS for the current year.

PTC announced that its board has initiated a stock repurchase program on Tuesday, September 19th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

In other PTC news, EVP Anthony Dibona sold 10,929 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $65.25, for a total transaction of $713,117.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $64.58, for a total value of $1,614,500.00. The disclosure for this sale can be found here. Insiders have sold 55,924 shares of company stock valued at $3,627,304 in the last quarter. 1.11% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTC. Aperio Group LLC grew its holdings in PTC by 20.0% during the 2nd quarter. Aperio Group LLC now owns 25,790 shares of the technology company’s stock valued at $1,422,000 after buying an additional 4,297 shares in the last quarter. US Bancorp DE grew its holdings in PTC by 56.2% during the 2nd quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock valued at $144,000 after buying an additional 937 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in PTC by 1.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 69,411 shares of the technology company’s stock valued at $3,823,000 after buying an additional 777 shares in the last quarter. CIBC Asset Management Inc purchased a new position in PTC during the 2nd quarter valued at approximately $205,000. Finally, World Asset Management Inc grew its holdings in PTC by 10.2% during the 2nd quarter. World Asset Management Inc now owns 8,377 shares of the technology company’s stock valued at $462,000 after buying an additional 775 shares in the last quarter. Institutional investors and hedge funds own 97.99% of the company’s stock.

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About PTC

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.

Analyst Recommendations for PTC (NASDAQ:PTC)

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