PTC (PTC) Stock Rating Reaffirmed by Seaport Global Securities

PTC (NASDAQ:PTC)‘s stock had its “buy” rating reissued by research analysts at Seaport Global Securities in a research note issued to investors on Friday. They currently have a $83.00 price objective on the technology company’s stock. Seaport Global Securities’ target price indicates a potential upside of 16.15% from the stock’s previous close.

Several other equities analysts have also recently commented on PTC. BidaskClub raised shares of PTC from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird raised their price target on shares of PTC from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday. Wedbush restated an “outperform” rating and set a $78.00 price target (up previously from $69.00) on shares of PTC in a research note on Thursday. Evercore ISI restated a “buy” rating and set a $85.00 price target on shares of PTC in a research note on Thursday. Finally, Barclays raised their price target on shares of PTC from $69.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. PTC currently has an average rating of “Buy” and a consensus price target of $70.81.

PTC (NASDAQ PTC) traded up $1.51 during trading on Friday, hitting $71.46. 2,175,943 shares of the company’s stock traded hands, compared to its average volume of 1,030,000. PTC has a 1 year low of $49.12 and a 1 year high of $74.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.98 and a current ratio of 1.10. The company has a market cap of $8,300.00, a PE ratio of 297.75 and a beta of 1.34.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, January 17th. The technology company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. PTC had a net margin of 2.47% and a return on equity of 9.29%. The firm had revenue of $306.44 million for the quarter, compared to analysts’ expectations of $300.17 million. During the same quarter last year, the firm earned $0.26 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. sell-side analysts expect that PTC will post 0.78 EPS for the current fiscal year.

In related news, insider James E. Heppelmann sold 25,000 shares of PTC 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony Dibona sold 4,920 shares of PTC stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $64.58, for a total transaction of $317,733.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,924 shares of company stock valued at $3,627,304. 1.11% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in PTC in the 4th quarter valued at approximately $510,000. Oakbrook Investments LLC grew its stake in PTC by 19.1% in the 4th quarter. Oakbrook Investments LLC now owns 9,470 shares of the technology company’s stock valued at $575,000 after buying an additional 1,520 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in PTC by 2.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 472,552 shares of the technology company’s stock valued at $28,717,000 after buying an additional 11,110 shares in the last quarter. Bank of Montreal Can grew its stake in PTC by 120.4% in the 4th quarter. Bank of Montreal Can now owns 16,212 shares of the technology company’s stock valued at $985,000 after buying an additional 8,857 shares in the last quarter. Finally, AXA grew its stake in PTC by 15.9% in the 3rd quarter. AXA now owns 1,161,468 shares of the technology company’s stock valued at $65,367,000 after buying an additional 159,329 shares in the last quarter.

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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.

Analyst Recommendations for PTC (NASDAQ:PTC)

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