BidaskClub Lowers PTC (PTC) to Buy

PTC (NASDAQ:PTC) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

A number of other brokerages have also recently issued reports on PTC. Barclays boosted their price objective on PTC from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, April 19th. Berenberg Bank boosted their price objective on PTC to $100.00 and gave the stock a “buy” rating in a report on Monday, April 23rd. UBS boosted their price objective on PTC to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, April 18th. Robert W. Baird restated an “in-line” rating and set a $95.00 price objective (up previously from $83.00) on shares of PTC in a report on Thursday, April 19th. Finally, KeyCorp boosted their price objective on PTC from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, April 19th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. PTC currently has a consensus rating of “Buy” and an average target price of $80.25.

Shares of NASDAQ PTC opened at $84.42 on Thursday. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 114.11, a price-to-earnings-growth ratio of 2.66 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 0.94. PTC has a twelve month low of $84.07 and a twelve month high of $84.65.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, April 18th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. PTC had a return on equity of 10.04% and a net margin of 3.16%. The company had revenue of $307.88 million during the quarter, compared to analysts’ expectations of $302.90 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. analysts anticipate that PTC will post 0.83 earnings per share for the current fiscal year.

In other PTC news, EVP Anthony Dibona sold 3,278 shares of the business’s stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $84.35, for a total transaction of $276,499.30. Following the completion of the transaction, the executive vice president now directly owns 33,181 shares in the company, valued at $2,798,817.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Barry F. Cohen sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, April 20th. The shares were sold at an average price of $84.13, for a total transaction of $5,889,100.00. Following the transaction, the executive vice president now owns 58,164 shares of the company’s stock, valued at $4,893,337.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,278 shares of company stock valued at $11,520,574. 1.19% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PTC. Carillon Tower Advisers Inc. acquired a new position in PTC during the fourth quarter valued at approximately $114,935,000. Renaissance Technologies LLC raised its position in PTC by 441.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,088,600 shares of the technology company’s stock valued at $66,154,000 after purchasing an additional 887,400 shares in the last quarter. BlackRock Inc. raised its position in PTC by 5.4% during the first quarter. BlackRock Inc. now owns 10,397,084 shares of the technology company’s stock valued at $811,076,000 after purchasing an additional 530,133 shares in the last quarter. Deutsche Bank AG raised its position in PTC by 114.3% during the fourth quarter. Deutsche Bank AG now owns 722,059 shares of the technology company’s stock valued at $43,876,000 after purchasing an additional 385,198 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in PTC by 32.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,438,819 shares of the technology company’s stock valued at $87,437,000 after purchasing an additional 349,609 shares in the last quarter.

About PTC

PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

Analyst Recommendations for PTC (NASDAQ:PTC)

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