PTC Inc. (PTC) Receives $51.00 Consensus Target Price from Analysts
Shares of PTC Inc. (NASDAQ:PTC) have received a consensus rating of “Buy” from the sixteen analysts that are covering the firm. Two analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $51.00.
Several equities analysts have commented on the stock. Goldman Sachs Group Inc. assumed coverage on shares of PTC in a research report on Friday, November 4th. They issued a “buy” rating and a $58.00 price target for the company. Royal Bank Of Canada raised their price objective on shares of PTC from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. RBC Capital Markets restated an “outperform” rating and issued a $55.00 price objective (up from $53.00) on shares of PTC in a report on Wednesday, November 9th. Wedbush raised their price objective on shares of PTC from $54.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. Finally, Barclays PLC restated a “buy” rating and issued a $59.00 price objective on shares of PTC in a report on Wednesday, November 9th.
Shares of PTC (NASDAQ:PTC) opened at 48.68 on Wednesday. PTC has a 12-month low of $27.06 and a 12-month high of $49.24. The stock’s market capitalization is $5.60 billion. The firm has a 50-day moving average of $45.93 and a 200 day moving average of $41.11.
PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 business earned $288.20 million during the quarter, compared to analysts’ expectations of $297.91 million. During the same period in the prior year, the business earned $0.67 EPS. The business’s quarterly revenue was down 7.8% on a year-over-year basis. Equities analysts forecast that PTC will post $1.33 earnings per share for the current fiscal year.
In other PTC news, EVP Anthony Dibona sold 11,025 shares of PTC stock in a transaction on Friday, November 18th. The shares were sold at an average price of $48.72, for a total value of $537,138.00. Following the transaction, the executive vice president now directly owns 32,884 shares in the company, valued at $1,602,108.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Schechter sold 1,136 shares of PTC stock in a transaction on Monday, October 3rd. The shares were 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 in the company, valued at $2,702,775.70. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PTC. Vanguard Group Inc. raised its position in PTC by 2.6% in the second quarter. Vanguard Group Inc. now owns 8,289,794 shares of the company’s stock worth $311,531,000 after buying an additional 207,521 shares in the last quarter. Epoch Investment Partners Inc. raised its position in PTC by 102.7% in the third quarter. Epoch Investment Partners Inc. now owns 4,704,111 shares of the company’s stock worth $208,439,000 after buying an additional 2,383,542 shares in the last quarter. BlackRock Fund Advisors raised its position in PTC by 3.8% in the third quarter. BlackRock Fund Advisors now owns 4,455,776 shares of the company’s stock worth $197,435,000 after buying an additional 162,936 shares in the last quarter. Jennison Associates LLC raised its position in PTC by 1.8% in the second quarter. Jennison Associates LLC now owns 3,591,550 shares of the company’s stock worth $134,970,000 after buying an additional 62,504 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of PTC by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,400,570 shares of the company’s stock valued at $127,793,000 after buying an additional 57,166 shares during the last quarter. Institutional investors own 94.26% 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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