Evercore ISI Begins Coverage on PTC Inc. (PTC)
PTC has been the topic of several other research reports. Citigroup Inc. started coverage on shares of PTC in a research note on Monday, August 1st. They set a buy rating and a $48.00 price target on the stock. Wedbush restated an outperform rating and set a $43.00 price target on shares of PTC in a research note on Friday, July 15th. Finally, Zacks Investment Research lowered shares of PTC from a hold rating to a strong sell rating in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $41.82.
Shares of PTC (NASDAQ:PTC) opened at 43.26 on Wednesday. PTC has a 52 week low of $27.06 and a 52 week high of $43.96. The stock has a 50 day moving average of $41.74 and a 200-day moving average of $36.97. The firm’s market cap is $4.97 billion.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.05. PTC had a positive return on equity of 16.92% and a negative net margin of 1.60%. The business had revenue of $289.70 million for the quarter, compared to analyst estimates of $288.77 million. During the same quarter last year, the company earned $0.53 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. Equities research analysts expect that PTC will post $1.38 earnings per share for the current year.
In other news, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $40.41, for a total transaction of $1,010,250.00. Following the completion of the transaction, the insider now directly owns 578,181 shares of the company’s stock, valued at approximately $23,364,294.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony Dibona sold 3,238 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $40.26, for a total transaction of $130,361.88. Following the transaction, the executive vice president now directly owns 22,051 shares of the company’s stock, valued at $887,773.26. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in PTC. US Bancorp DE increased its position in PTC by 1.8% in the second quarter. US Bancorp DE now owns 3,595 shares of the company’s stock worth $136,000 after buying an additional 65 shares during the last quarter. Hsbc Holdings PLC increased its position in PTC by 1.5% in the second quarter. Hsbc Holdings PLC now owns 6,932 shares of the company’s stock worth $261,000 after buying an additional 102 shares during the last quarter. M&T Bank Corp increased its position in PTC by 1.1% in the second quarter. M&T Bank Corp now owns 10,497 shares of the company’s stock worth $394,000 after buying an additional 111 shares during the last quarter. Diversified Trust Co increased its position in PTC by 1.8% in the second quarter. Diversified Trust Co now owns 8,650 shares of the company’s stock worth $325,000 after buying an additional 150 shares during the last quarter. Finally, Utah Retirement Systems increased its position in PTC by 1.0% in the second quarter. Utah Retirement Systems now owns 20,700 shares of the company’s stock worth $778,000 after buying an additional 200 shares during the last quarter. 95.74% of the stock is owned by institutional investors.
PTC Company Profile
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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