PTC Inc. (PTC) Receives $42.75 Average Price Target from Analysts
PTC Inc. (NASDAQ:PTC) has been assigned a consensus rating of “Buy” from the twelve brokerages that are presently covering the stock. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $43.88.
Several analysts recently issued reports on the company. Zacks Investment Research cut PTC from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 22nd. Wedbush reaffirmed an “outperform” rating and set a $43.00 price objective on shares of PTC in a research report on Friday, July 15th. Citigroup Inc. assumed coverage on PTC in a research report on Monday, August 1st. They set a “buy” rating and a $48.00 price objective on the stock. Evercore ISI assumed coverage on PTC in a research report on Wednesday, September 14th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Brean Capital assumed coverage on PTC in a research report on Friday, October 7th. They set a “buy” rating on the stock.
In related news, EVP Anthony Dibona sold 3,238 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $40.26, for a total value of $130,361.88. Following the completion of the transaction, the executive vice president now directly owns 22,051 shares in the company, valued at approximately $887,773.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Schechter sold 1,136 shares of the business’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 transaction of $51,142.72. Following the completion of the transaction, the director now owns 60,035 shares of the company’s stock, valued at $2,702,775.70. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Hennessy Advisors Inc. purchased a new position in shares of PTC during the third quarter worth $34,938,000. First National Bank of Omaha raised its position in shares of PTC by 0.3% in the third quarter. First National Bank of Omaha now owns 56,565 shares of the company’s stock worth $2,506,000 after buying an additional 190 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of PTC by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 39,129 shares of the company’s stock worth $1,734,000 after buying an additional 790 shares during the last quarter. Capital Investment Services of America Inc. raised its position in shares of PTC by 19.1% in the third quarter. Capital Investment Services of America Inc. now owns 303,475 shares of the company’s stock worth $13,447,000 after buying an additional 48,603 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of PTC by 6.4% in the second quarter. Macquarie Group Ltd. now owns 1,355,918 shares of the company’s stock worth $50,955,000 after buying an additional 81,080 shares during the last quarter. Institutional investors own 95.12% of the company’s stock.
PTC (NASDAQ:PTC) opened at 45.26 on Wednesday. PTC has a 12-month low of $27.06 and a 12-month high of $46.91. The firm’s market cap is $5.20 billion. The stock’s 50 day moving average price is $44.10 and its 200-day moving average price is $39.02.
PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, July 20th. The company reported $0.26 earnings per share (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 revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. Equities research analysts anticipate that PTC will post $1.34 earnings per share for the current fiscal year.
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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