PTC (NASDAQ:PTC) Receives Underperform Rating from Bank of America

PTC (NASDAQ:PTC)‘s stock had its “underperform” rating reissued by analysts at Bank of America in a report released on Wednesday, Briefing.com Automated Import reports. They currently have a $86.00 price objective on the technology company’s stock. Bank of America‘s target price points to a potential downside of 0.39% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on PTC. Zacks Investment Research upgraded PTC from a “hold” rating to a “strong-buy” rating and set a $109.00 price objective for the company in a report on Friday, April 12th. BidaskClub upgraded PTC from a “buy” rating to a “strong-buy” rating in a report on Tuesday. KeyCorp assumed coverage on PTC in a report on Wednesday, April 10th. They set an “overweight” rating and a $111.00 price objective for the company. Mizuho assumed coverage on PTC in a report on Thursday, April 11th. They set a “buy” rating and a $120.00 price objective for the company. Finally, TheStreet upgraded PTC from a “c+” rating to a “b-” rating in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $103.50.

PTC traded down $1.13 during trading hours on Wednesday, reaching $86.34. 8,989 shares of the company’s stock traded hands, compared to its average volume of 865,344. PTC has a 52-week low of $76.67 and a 52-week high of $107.44. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $9.99 billion, a P/E ratio of 95.74, a PEG ratio of 2.60 and a beta of 1.21.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. PTC had a return on equity of 11.68% and a net margin of 3.06%. The company had revenue of $315.50 million during the quarter, compared to analysts’ expectations of $312.29 million. During the same quarter in the previous year, the business earned $0.34 EPS. PTC’s revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that PTC will post 1.05 EPS for the current fiscal year.

In other PTC news, Director Corinna Lathan sold 2,260 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $91.47, for a total value of $206,722.20. Following the completion of the sale, the director now directly owns 5,497 shares in the company, valued at approximately $502,810.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kathleen Mitford sold 815 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $91.47, for a total value of $74,548.05. Following the completion of the sale, the executive vice president now owns 14,271 shares of the company’s stock, valued at $1,305,368.37. The disclosure for this sale can be found here. Insiders sold a total of 19,025 shares of company stock valued at $1,705,488 over the last quarter. Company insiders own 9.91% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTC. Riverview Trust Co bought a new position in shares of PTC in the 4th quarter worth $31,000. Oregon Public Employees Retirement Fund raised its position in shares of PTC by 8,190.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,497,800 shares of the technology company’s stock worth $42,000 after acquiring an additional 3,455,607 shares in the last quarter. Cresset Asset Management LLC raised its position in shares of PTC by 646.0% in the 1st quarter. Cresset Asset Management LLC now owns 470 shares of the technology company’s stock worth $43,000 after acquiring an additional 407 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of PTC in the 1st quarter worth $48,000. Finally, Pearl River Capital LLC bought a new position in shares of PTC in the 4th quarter worth $58,000. 92.61% of the stock is owned by hedge funds and other institutional investors.

About PTC

PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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Analyst Recommendations for PTC (NASDAQ:PTC)

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