Zacks Investment Research upgraded shares of PTC (NASDAQ:PTC) from a sell rating to a hold rating in a research report released on Tuesday, March 20th.
According to Zacks, “PTC Inc. develops, markets, and supports software solutions. The company offers enterprise solutions and desktop solutions. Its principal Enterprise Solutions are Windchill, Arbortext, Creo View and Integrity. The Company’s Desktop Solutions include its integrated Creo software suite, its Mathcad engineering calculations software and its Arbortext document authoring tools. It also offers consultation, implementation, training, and maintenance services. PTC Inc., formerly known as Parametric Technology Corporation, is headquartered in Needham, Massachusetts. “
A number of other research analysts also recently issued reports on PTC. Wedbush restated an outperform rating and set a $78.00 price target (up previously from $69.00) on shares of PTC in a report on Thursday, January 18th. Seaport Global Securities restated a buy rating and set a $83.00 price target on shares of PTC in a report on Friday, January 19th. Citigroup boosted their price target on PTC to $78.00 and gave the company a buy rating in a report on Thursday, January 18th. Evercore ISI restated a buy rating and set a $85.00 price target on shares of PTC in a report on Thursday, January 18th. Finally, BidaskClub downgraded PTC from a buy rating to a hold rating in a report on Thursday, December 7th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $73.81.
Shares of PTC traded up $1.77 during trading hours on Tuesday, hitting $81.41. The company had a trading volume of 832,221 shares, compared to its average volume of 956,612. The company has a market cap of $9,293.45, a P/E ratio of 110.01, a P/E/G ratio of 2.86 and a beta of 1.33. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.84. PTC has a 52-week low of $51.02 and a 52-week high of $81.92.
PTC (NASDAQ:PTC) last released its quarterly earnings data 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. The firm had revenue of $306.44 million for the quarter, compared to the consensus estimate of $300.17 million. PTC had a return on equity of 9.29% and a net margin of 2.47%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 earnings per share. equities research analysts forecast that PTC will post 0.78 earnings per share for the current fiscal year.
In other news, EVP Anthony Dibona sold 5,464 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $73.97, for a total value of $404,172.08. Following the sale, the executive vice president now directly owns 36,317 shares of the company’s stock, valued at approximately $2,686,368.49. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Staats Aaron C. Von sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $73.76, for a total value of $553,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,964 shares of company stock worth $2,765,872. Insiders own 1.19% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Cerebellum GP LLC bought a new position in PTC in the 4th quarter valued at approximately $128,000. ING Groep NV bought a new position in PTC in the 4th quarter valued at approximately $203,000. US Bancorp DE lifted its position in PTC by 29.5% in the 4th quarter. US Bancorp DE now owns 3,813 shares of the technology company’s stock valued at $233,000 after acquiring an additional 868 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in PTC in the 3rd quarter valued at approximately $218,000. Finally, Cetera Advisor Networks LLC bought a new position in PTC in the 4th quarter valued at approximately $258,000. 97.98% of the stock is currently owned by institutional investors and hedge funds.
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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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