PTC Inc. (PTC) Receives $63.13 Average Price Target from Brokerages
PTC Inc. (NASDAQ:PTC) has earned a consensus rating of “Buy” from the nineteen analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $63.13.
Several research firms recently weighed in on PTC. Barclays PLC reiterated an “overweight” rating and set a $65.00 target price (down from $67.00) on shares of PTC in a research report on Saturday, July 22nd. J P Morgan Chase & Co reiterated an “overweight” rating and set a $68.00 target price on shares of PTC in a research report on Thursday, July 20th. Pacific Crest raised their price objective on PTC from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, June 6th. BidaskClub downgraded PTC from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Benchmark Co. assumed coverage on PTC in a report on Thursday, May 18th. They issued a “buy” rating and a $65.00 price objective on the stock.
In other news, VP Staats Aaron C. Von sold 5,750 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $55.26, for a total value of $317,745.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald K. Grierson sold 5,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $53.77, for a total value of $268,850.00. Following the completion of the sale, the director now owns 62,300 shares of the company’s stock, valued at approximately $3,349,871. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,329 shares of company stock valued at $3,588,097. Insiders own 1.11% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Stephens Inc. AR bought a new stake in PTC during the second quarter worth about $126,000. Toronto Dominion Bank raised its stake in PTC by 10.0% in the first quarter. Toronto Dominion Bank now owns 2,475 shares of the technology company’s stock worth $130,000 after buying an additional 225 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new stake in PTC during the first quarter worth about $132,000. US Bancorp DE raised its stake in PTC by 56.2% in the second quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock worth $144,000 after buying an additional 937 shares during the period. Finally, Advisor Group Inc. raised its stake in PTC by 7.4% in the second quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock worth $150,000 after buying an additional 186 shares during the period. Institutional investors and hedge funds own 98.40% of the company’s stock.
Shares of PTC (NASDAQ PTC) traded up 0.79% during midday trading on Wednesday, reaching $55.16. 947,180 shares of the company traded hands. The firm’s market capitalization is $6.38 billion. The stock has a 50 day moving average price of $55.18 and a 200 day moving average price of $54.94. PTC has a 1-year low of $41.40 and a 1-year high of $60.22.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The firm had revenue of $291.92 million for the quarter, compared to the consensus estimate of $290.55 million. During the same period in the prior year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts expect that PTC will post $1.20 earnings per share for the current fiscal year.
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PTC Company Profile
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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