PTC Inc. (PTC) Receives New Coverage from Analysts at Brean Capital
Several other research analysts also recently commented on the company. Zacks Investment Research upgraded PTC from a sell rating to a hold rating in a research note on Thursday, September 29th. Citigroup Inc. assumed coverage on PTC in a research note on Monday, August 1st. They set a buy rating and a $48.00 target price for the company. Wedbush reiterated an outperform rating and set a $43.00 target price on shares of PTC in a research note on Friday, July 15th. Finally, Evercore ISI assumed coverage on PTC in a research note on Wednesday, September 14th. They set a buy rating and a $50.00 target price for the company. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $41.89.
Shares of PTC (NASDAQ:PTC) traded up 0.59% on Friday, hitting $46.21. The company had a trading volume of 279,303 shares. PTC has a 12-month low of $27.06 and a 12-month high of $46.91. The firm has a 50-day moving average price of $43.66 and a 200 day moving average price of $38.59. The company’s market capitalization is $5.31 billion.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. Equities analysts expect that PTC will post $1.34 EPS for the current year.
In other PTC news, Director Robert Schechter sold 1,248 shares of PTC stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $39.98, for a total value of $49,895.04. Following the completion of the transaction, the director now directly owns 61,171 shares of the company’s stock, valued at approximately $2,445,616.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul A. Lacy sold 8,779 shares of PTC stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $40.42, for a total value of $354,847.18. Following the completion of the transaction, the director now directly owns 60,143 shares of the company’s stock, valued at $2,430,980.06. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in PTC by 3,567.2% in the second quarter. BNP Paribas Arbitrage SA now owns 45,290 shares of the company’s stock worth $1,702,000 after buying an additional 44,055 shares during the period. Silvercrest Asset Management Group LLC boosted its position 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 boosted its position 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 boosted its position 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 boosted its position 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 hedge funds and other institutional investors.
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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