PTC Inc (PTC) Given New $64.00 Price Target at Wedbush
PTC Inc (NASDAQ:PTC) had its target price upped by Wedbush from $59.00 to $64.00 in a research report report published on Thursday. They currently have an outperform rating on the technology company’s stock.
Several other brokerages also recently issued reports on PTC. Seaport Global Securities began coverage on PTC in a report on Wednesday, March 1st. They issued a buy rating and a $69.00 price target on the stock. Evercore ISI reissued a buy rating and issued a $65.00 price target on shares of PTC in a report on Thursday. Guggenheim reissued a neutral rating and issued a $50.00 price target on shares of PTC in a report on Tuesday. Zacks Investment Research raised PTC from a sell rating to a hold rating in a report on Wednesday, January 25th. Finally, Royal Bank of Canada raised their price target on PTC from $55.00 to $62.00 and gave the stock an outperform rating in a report on Friday, March 24th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. PTC currently has an average rating of Buy and an average price target of $60.31.
PTC (NASDAQ:PTC) traded down 1.98% during midday trading on Thursday, reaching $51.93. The company had a trading volume of 1,568,780 shares. The firm’s market capitalization is $6.01 billion. The firm’s 50-day moving average price is $53.62 and its 200 day moving average price is $50.02. PTC has a 12 month low of $34.64 and a 12 month high of $56.73.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.02. The business had revenue of $280 million for the quarter, compared to the consensus estimate of $283.81 million. PTC had a positive return on equity of 7.04% and a negative net margin of 3.50%. The business’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. Equities analysts anticipate that PTC will post $1.26 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “PTC Inc (PTC) Given New $64.00 Price Target at Wedbush” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/04/21/ptc-inc-ptc-given-new-64-00-price-target-at-wedbush.html.
In other PTC news, EVP Matthew Lessner Cohen sold 14,553 shares of PTC stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $50.02, for a total transaction of $727,941.06. Following the sale, the executive vice president now owns 18,250 shares of the company’s stock, valued at approximately $912,865. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Phillip M. Fernandez sold 500 shares of PTC stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $55.62, for a total value of $27,810.00. Following the sale, the director now directly owns 12,575 shares in the company, valued at approximately $699,421.50. The disclosure for this sale can be found here. Insiders have sold a total of 77,553 shares of company stock worth $4,009,526 in the last ninety days. 1.02% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in PTC. TIAA CREF Investment Management LLC increased its stake in shares of PTC by 6.9% in the third quarter. TIAA CREF Investment Management LLC now owns 449,849 shares of the technology company’s stock valued at $19,933,000 after buying an additional 29,037 shares during the last quarter. Norges Bank purchased a new stake in PTC during the fourth quarter worth approximately $38,991,000. Westport Asset Management Inc. purchased a new stake in PTC during the fourth quarter worth approximately $1,902,000. Ameriprise Financial Inc. increased its stake in PTC by 7.8% in the third quarter. Ameriprise Financial Inc. now owns 899,194 shares of the technology company’s stock worth $39,853,000 after buying an additional 64,851 shares in the last quarter. Finally, Sirios Capital Management L P increased its stake in PTC by 14.9% in the third quarter. Sirios Capital Management L P now owns 1,235,619 shares of the technology company’s stock worth $54,750,000 after buying an additional 159,955 shares in the last quarter. 97.51% of the stock is currently owned by hedge funds and other institutional investors.
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
Receive News & Stock Ratings for PTC Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Inc and related stocks with our FREE daily email newsletter.