PTC Inc. (PTC) PT Set at $55.00 by Pacific Crest
PTC Inc. (NASDAQ:PTC) has been given a $55.00 price target by equities research analysts at Pacific Crest in a research note issued on Wednesday. The firm presently has a a “buy” rating on the stock. Pacific Crest’s price objective would indicate a potential upside of 16.60% from the company’s previous close.
PTC has been the topic of a number of other research reports. Zacks Investment Research raised PTC from a “sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Brean Capital began coverage on PTC in a research note on Friday, October 7th. They set a “buy” rating on the stock. Wedbush reissued an “outperform” rating and set a $52.00 price target (up previously from $46.00) on shares of PTC in a research note on Wednesday, October 12th. Evercore ISI began coverage on PTC in a research note on Wednesday, September 14th. They set a “buy” rating and a $50.00 price target 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 target on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $49.93.
PTC (NASDAQ:PTC) opened at 47.17 on Wednesday. PTC has a 12-month low of $27.06 and a 12-month high of $47.90. The company has a 50-day moving average price of $45.38 and a 200-day moving average price of $40.69. The stock’s market capitalization is $5.42 billion.
PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, October 26th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.10. PTC had a negative net margin of 4.92% and a positive return on equity of 10.56%. The company earned $288.20 million during the quarter, compared to analysts’ expectations of $297.91 million. During the same period in the previous year, the company posted $0.67 EPS. PTC’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts forecast that PTC will post $1.33 earnings per share for the current year.
In related news, EVP Matthew Lessner Cohen sold 8,000 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $42.57, for a total value of $340,560.00. Following the completion of the sale, the executive vice president now directly owns 14,607 shares in the company, valued at approximately $621,819.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $46.46, for a total value of $1,161,500.00. Following the completion of the sale, the insider now owns 561,006 shares of the company’s stock, valued at $26,064,338.76. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new stake in shares of PTC during the third quarter valued at $114,000. Tower Research Capital LLC TRC increased its stake in shares of PTC by 221.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,044 shares of the company’s stock valued at $114,000 after buying an additional 2,098 shares in the last quarter. US Bancorp DE increased its stake in shares of PTC by 1.8% in the second quarter. US Bancorp DE now owns 3,595 shares of the company’s stock valued at $136,000 after buying an additional 65 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of PTC by 99.8% in the second quarter. Bessemer Group Inc. now owns 3,739 shares of the company’s stock valued at $140,000 after buying an additional 1,868 shares in the last quarter. Finally, DIAM Co. Ltd. acquired a new stake in shares of PTC during the third quarter valued at $172,000. Hedge funds and other institutional investors own 96.27% of the company’s stock.
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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