Wedbush restated their outperform rating on shares of PTC Inc. (NASDAQ:PTC) in a report published on Wednesday. The brokerage currently has a $52.00 price objective on the stock, up from their prior price objective of $46.00.

PTC has been the topic of a number of other research reports. Zacks Investment Research upgraded PTC from a sell rating to a hold rating in a research report on Tuesday, September 20th. Brean Capital began coverage on PTC in a research note on Friday, October 7th. They set a buy rating on the stock. Evercore ISI began coverage on PTC in a research note on Wednesday, September 14th. They set a buy rating and a $50.00 price objective on the stock. Finally, Citigroup Inc. began coverage on PTC in a research note on Monday, August 1st. They set a buy rating and a $48.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $42.89.

Analyst Recommendations for PTC (NASDAQ:PTC)

PTC (NASDAQ:PTC) traded down 0.58% on Wednesday, reaching $44.88. The company had a trading volume of 142,447 shares. The firm’s market capitalization is $5.16 billion. PTC has a one year low of $27.06 and a one year high of $46.91. The company’s 50 day moving average is $43.93 and its 200-day moving average is $38.88.

PTC (NASDAQ:PTC) last released its quarterly earnings results 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. PTC had a negative net margin of 1.60% and a positive return on equity of 16.92%. The firm had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $288.77 million. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities research analysts expect that PTC will post $1.34 earnings per share for the current fiscal year.

In related news, EVP Matthew Lessner Cohen sold 8,000 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $42.57, for a total value of $340,560.00. Following the completion of the transaction, the executive vice president now owns 14,607 shares of the company’s stock, valued at approximately $621,819.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Schechter sold 1,136 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $45.02, for a total transaction of $51,142.72. Following the completion of the transaction, 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 company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. UBS Group AG increased its position in shares of PTC by 67.6% in the first quarter. UBS Group AG now owns 19,706 shares of the company’s stock valued at $653,000 after buying an additional 7,948 shares in the last quarter. State Street Corp boosted its stake in shares of PTC by 1.1% in the first quarter. State Street Corp now owns 2,994,019 shares of the company’s stock valued at $99,277,000 after buying an additional 33,079 shares during the last quarter. Zebra Capital Management LLC boosted its stake in shares of PTC by 22.1% in the first quarter. Zebra Capital Management LLC now owns 20,057 shares of the company’s stock valued at $665,000 after buying an additional 3,632 shares during the last quarter. Clovis Capital Management LP boosted its stake in shares of PTC by 49.0% in the first quarter. Clovis Capital Management LP now owns 425,636 shares of the company’s stock valued at $14,114,000 after buying an additional 140,047 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of PTC by 18.3% in the first quarter. M&T Bank Corp now owns 10,386 shares of the company’s stock valued at $345,000 after buying an additional 1,604 shares during the last quarter. 95.12% of the stock is owned by institutional investors.

About PTC

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.

5 Day Chart for NASDAQ:PTC

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