Analysts predict that PTC Inc (NASDAQ:PTC) will announce $316.64 million in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for PTC’s earnings. The highest sales estimate is $323.20 million and the lowest is $297.92 million. PTC posted sales of $314.78 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.6%. The business is scheduled to announce its next quarterly earnings report on Wednesday, July 17th.
According to Zacks, analysts expect that PTC will report full year sales of $1.31 billion for the current financial year, with estimates ranging from $1.27 billion to $1.32 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.48 billion, with estimates ranging from $1.40 billion to $1.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow PTC.
PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $315.50 million during the quarter, compared to analysts’ expectations of $312.29 million. During the same period in the prior year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year.
PTC has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on PTC in a research report on Wednesday, April 10th. They set an “overweight” rating and a $111.00 price target on the stock. BidaskClub upgraded PTC from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Bank of America cut PTC from a “neutral” rating to an “underperform” rating and set a $86.00 price target on the stock. in a research note on Thursday, April 25th. Mitsubishi UFJ Financial Group cut their price target on PTC from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Thursday, January 24th. Finally, Zacks Investment Research upgraded PTC from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Friday, February 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. PTC currently has an average rating of “Buy” and a consensus price target of $103.88.
In other news, EVP Kathleen Mitford sold 815 shares of PTC stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $91.47, for a total transaction of $74,548.05. Following the sale, the executive vice president now owns 14,271 shares in the company, valued at $1,305,368.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Heppelmann sold 15,000 shares of PTC stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $89.02, for a total value of $1,335,300.00. The disclosure for this sale can be found here. Insiders have sold 68,487 shares of company stock worth $6,322,997 in the last quarter. Insiders own 9.91% of the company’s stock.
A number of hedge funds have recently modified their holdings of PTC. Riverview Trust Co acquired a new position in PTC in the 4th quarter valued at about $31,000. Oregon Public Employees Retirement Fund grew its stake in PTC by 8,190.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,497,800 shares of the technology company’s stock worth $42,000 after buying an additional 3,455,607 shares in the last quarter. Cresset Asset Management LLC boosted its stake 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 valued at $43,000 after purchasing an additional 407 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of PTC in the 1st quarter valued at approximately $48,000. Finally, Pearl River Capital LLC acquired a new stake in shares of PTC in the 4th quarter valued at approximately $58,000. Hedge funds and other institutional investors own 91.56% of the company’s stock.
Shares of PTC stock traded down $1.70 during mid-day trading on Tuesday, hitting $86.85. The stock had a trading volume of 17,970 shares, compared to its average volume of 1,408,370. PTC has a 12-month low of $76.67 and a 12-month high of $107.44. The stock has a market capitalization of $10.02 billion, a price-to-earnings ratio of 97.69, a P/E/G ratio of 2.62 and a beta of 1.21. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.
PTC Company Profile
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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