PTC Inc. (PTC) Receives Overweight Rating from Barclays PLC
Barclays PLC reiterated their overweight rating on shares of PTC Inc. (NASDAQ:PTC) in a report released on Saturday morning. Barclays PLC currently has a $65.00 target price on the technology company’s stock, down from their previous target price of $67.00.
A number of other equities analysts have also issued reports on PTC. Royal Bank Of Canada increased their target price on shares of PTC from $55.00 to $62.00 and gave the company an outperform rating in a research report on Friday, March 24th. Evercore ISI set a $65.00 target price on shares of PTC and gave the company a buy rating in a research report on Saturday, March 25th. Wedbush reiterated an outperform rating and issued a $59.00 target price on shares of PTC in a research report on Tuesday, April 11th. Guggenheim started coverage on shares of PTC in a research report on Wednesday, April 12th. They issued a neutral rating and a $50.00 target price for the company. They noted that the move was a valuation call. Finally, Griffin Securities increased their target price on shares of PTC from $55.00 to $65.00 and gave the company a buy rating in a research report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. PTC has a consensus rating of Buy and an average price target of $62.25.
Shares of PTC (PTC) traded up 2.07% during mid-day trading on Friday, hitting $55.22. 3,511,102 shares of the company traded hands. PTC has a 52-week low of $39.19 and a 52-week high of $60.22. The firm has a 50-day moving average price of $57.31 and a 200 day moving average price of $54.25. The firm’s market cap is $6.38 billion.
PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $291.92 million during the quarter, compared to analyst estimates of $290.55 million. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Equities research analysts anticipate that PTC will post $1.20 EPS for the current fiscal year.
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In other news, VP Staats Aaron C. Von sold 8,625 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $54.38, for a total transaction of $469,027.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony Dibona sold 3,308 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $53.56, for a total transaction of $177,176.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,933 shares of company stock valued at $2,005,704. Insiders own 1.11% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in PTC by 10,192.0% in the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after buying an additional 10,203,410 shares during the period. FMR LLC raised its stake in PTC by 115.0% in the first quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock worth $270,642,000 after buying an additional 2,755,079 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in PTC during the first quarter worth approximately $130,787,000. Thornburg Investment Management Inc. purchased a new stake in PTC during the first quarter worth approximately $109,170,000. Finally, UBS Asset Management Americas Inc. raised its stake in PTC by 1,572.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,457,367 shares of the technology company’s stock worth $67,431,000 after buying an additional 1,370,223 shares in the last quarter.
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.
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