PTC Inc. (PTC) Releases Q4 Earnings Guidance
PTC Inc. (NASDAQ:PTC) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of below $0.36 for the period, compared to the Thomson Reuters consensus estimate of $0.40. The company issued revenue guidance of below $305 million, compared to the consensus revenue estimate of $307.85 million.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of PTC from a sell rating to a hold rating in a report on Thursday. Evercore ISI started coverage on shares of PTC in a research note on Wednesday, September 14th. They issued a buy rating and a $50.00 price objective for the company. Wedbush reissued an outperform rating and issued a $43.00 price objective on shares of PTC in a research note on Friday, July 15th. Finally, Citigroup Inc. started coverage on shares of PTC in a research note on Monday, August 1st. They issued a buy rating and a $48.00 price objective for the company. 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 presently has an average rating of Buy and a consensus price target of $41.70.
PTC Inc. (NASDAQ:PTC) traded up 1.81% during trading on Monday, hitting $45.11. 2,578,740 shares of the company were exchanged. The stock’s 50-day moving average is $43.11 and its 200-day moving average is $38.11. PTC Inc. has a 12 month low of $27.06 and a 12 month high of $46.80. The company’s market capitalization is $5.19 billion.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.05. The company had revenue of $289.70 million for the quarter, compared to analyst estimates of $288.77 million. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. Equities research analysts anticipate that PTC Inc. will post $1.38 earnings per share for the current year.
In other news, insider James E. Heppelmann sold 25,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $40.41, for a total value of $1,010,250.00. Following the completion of the sale, the insider now directly owns 578,181 shares in the company, valued at $23,364,294.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony Dibona sold 3,238 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $40.26, for a total transaction of $130,361.88. Following the completion of the sale, the executive vice president now owns 22,051 shares of the company’s stock, valued at $887,773.26. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
Several large investors have recently modified their holdings of the stock. FIL Ltd purchased a new stake in shares of PTC during the second quarter worth about $9,490,000. State of Wisconsin Investment Board purchased a new stake in shares of PTC during the second quarter worth about $384,000. American International Group Inc. raised its stake in shares of PTC by 0.4% in the second quarter. American International Group Inc. now owns 221,602 shares of the company’s stock worth $8,328,000 after buying an additional 839 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of PTC during the second quarter worth about $534,000. Finally, Franklin Resources Inc. purchased a new stake in shares of PTC during the second quarter worth about $1,605,000. Institutional investors and hedge funds 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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