PTC Inc. (PTC) Upgraded to Hold at Zacks Investment Research
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 brokerages also recently weighed in on PTC. 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 on the stock. Citigroup Inc. started coverage on shares of PTC in a report on Monday, August 1st. They issued a buy rating and a $48.00 price target on the stock. Finally, Wedbush restated an outperform rating and issued a $43.00 price objective on shares of PTC in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $41.70.
Shares of PTC (NASDAQ:PTC) traded down 0.02% during midday trading on Wednesday, reaching $45.88. 209,286 shares of the company’s stock were exchanged. The company’s market cap is $5.27 billion. The firm has a 50 day moving average price of $43.41 and a 200 day moving average price of $38.44. PTC has a 12 month low of $27.06 and a 12 month high of $46.80.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.05. The firm had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $288.77 million. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. PTC’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Equities research analysts forecast that PTC will post $1.38 earnings per share for the current fiscal year.
In other PTC news, insider James E. Heppelmann sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was 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 owns 578,181 shares of the company’s stock, valued at $23,364,294.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Schechter sold 1,136 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $45.02, for a total value of $51,142.72. Following the completion of the sale, the director now directly owns 60,035 shares of the company’s stock, valued at approximately $2,702,775.70. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of PTC. BNP Paribas Arbitrage SA raised its stake in shares of PTC by 3,567.2% in the second quarter. BNP Paribas Arbitrage SA now owns 45,290 shares of the company’s stock valued at $1,702,000 after buying an additional 44,055 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in PTC by 3.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,474,628 shares of the company’s stock worth $48,899,000 after buying an additional 51,350 shares during the period. BlackRock Group LTD raised its stake in PTC by 1.6% in the first quarter. BlackRock Group LTD now owns 193,511 shares of the company’s stock worth $6,417,000 after buying an additional 2,962 shares during the period. UBS Group AG raised its stake in PTC by 67.6% in the first quarter. UBS Group AG now owns 19,706 shares of the company’s stock worth $653,000 after buying an additional 7,948 shares during the period. Finally, Chartwell Investment Partners LLC raised its stake in 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 period. 95.12% of the stock is owned by institutional investors and hedge funds.
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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