PTC Inc. (PTC) Lifted to “Hold” at Zacks Investment Research
PTC Inc. (NASDAQ:PTC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
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. “
Several other research analysts also recently commented on the stock. Evercore ISI initiated coverage on shares of PTC in a report on Wednesday, September 14th. They issued a “buy” rating and a $50.00 price target for the company. Citigroup Inc. initiated coverage on shares of PTC in a report on Monday, August 1st. They issued a “buy” rating and a $48.00 price target for the company. Finally, Wedbush reissued an “outperform” rating and issued a $43.00 price target on shares of PTC in a report on Friday, July 15th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. PTC currently has a consensus rating of “Buy” and a consensus target price of $41.70.
PTC (NASDAQ:PTC) opened at 44.51 on Thursday. PTC has a 52-week low of $27.06 and a 52-week high of $44.75. The stock has a 50 day moving average price of $42.95 and a 200 day moving average price of $37.97. The company’s market capitalization is $5.12 billion.
PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The business earned $289.70 million during the quarter, compared to the consensus estimate of $288.77 million. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. Analysts anticipate that PTC will post $1.38 EPS for the current fiscal year.
In other news, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $40.41, for a total transaction of $1,010,250.00. Following the sale, the insider now owns 578,181 shares in the company, valued at approximately $23,364,294.21. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Schechter sold 1,248 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $39.98, for a total transaction of $49,895.04. Following the sale, the director now owns 61,171 shares in the company, valued at approximately $2,445,616.58. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC boosted its position in shares of PTC by 582.3% in the second quarter. Citadel Advisors LLC now owns 1,611,643 shares of the company’s stock worth $60,566,000 after buying an additional 1,375,422 shares during the last quarter. Marshall Wace LLP boosted its position in shares of PTC by 66.9% in the second quarter. Marshall Wace LLP now owns 1,456,791 shares of the company’s stock worth $54,746,000 after buying an additional 584,103 shares during the last quarter. Royce & Associates LP boosted its position in shares of PTC by 35.5% in the first quarter. Royce & Associates LP now owns 1,589,100 shares of the company’s stock worth $52,695,000 after buying an additional 416,000 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in shares of PTC by 220.4% in the second quarter. Chartwell Investment Partners LLC now owns 518,534 shares of the company’s stock worth $19,487,000 after buying an additional 356,710 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of PTC by 17.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,360,836 shares of the company’s stock worth $78,286,000 after buying an additional 346,444 shares during the last quarter. Institutional investors own 95.12% of the company’s stock.
PTC Company Profile
PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.
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