PTC (NASDAQ:PTC) Downgraded by Zacks Investment Research to “Sell”
According to Zacks, “PTC Inc. develops, markets, and supports software solutions. The company offers enterprise solutions and desktop solutions. Its principal Enterprise Solutions are Windchill, Arbortext, Creo View and Integrity. The Company’s Desktop Solutions include its integrated Creo software suite, its Mathcad engineering calculations software and its Arbortext document authoring tools. It also offers consultation, implementation, training, and maintenance services. PTC Inc., formerly known as Parametric Technology Corporation, is headquartered in Needham, Massachusetts. “
Other analysts have also issued reports about the stock. Citigroup lowered their price objective on shares of PTC from $89.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. BidaskClub raised shares of PTC from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. Mizuho decreased their price target on shares of PTC from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Bank of America reissued an “underperform” rating and set a $65.00 price target (down from $80.00) on shares of PTC in a research report on Thursday, July 25th. Finally, Rosenblatt Securities began coverage on shares of PTC in a research report on Wednesday, August 21st. They set a “buy” rating and a $83.00 price target for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $90.06.
PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.18. PTC had a net margin of 2.63% and a return on equity of 10.44%. The company had revenue of $322.40 million during the quarter, compared to analyst estimates of $322.42 million. During the same period in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that PTC will post 1.09 EPS for the current fiscal year.
In other news, EVP Matthew Lessner Cohen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the transaction, the executive vice president now owns 25,672 shares in the company, valued at $2,310,480. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Staats Aaron C. Von sold 3,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $73.33, for a total transaction of $219,990.00. Following the transaction, the executive vice president now owns 14,154 shares in the company, valued at approximately $1,037,912.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,593 shares of company stock valued at $1,564,217. Insiders own 9.91% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PTC. Qube Research & Technologies Ltd acquired a new position in PTC in the 2nd quarter worth approximately $328,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in PTC by 11.9% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,262 shares of the technology company’s stock worth $1,729,000 after buying an additional 2,052 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in PTC by 4.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 430,000 shares of the technology company’s stock worth $38,597,000 after buying an additional 20,000 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in PTC by 44.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 7,307 shares of the technology company’s stock worth $656,000 after buying an additional 2,261 shares during the period. Finally, KBC Group NV increased its holdings in PTC by 3.2% in the 2nd quarter. KBC Group NV now owns 31,502 shares of the technology company’s stock worth $2,827,000 after buying an additional 989 shares during the period. Hedge funds and other institutional investors own 90.66% of the company’s stock.
PTC Company Profile
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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