Evercore ISI Analysts Give PTC Inc. (PTC) a $65.00 Price Target
“We believe this risk is further complicated as the company undergoes a transition to generating a greater percentage of sales that from a revenue perspective are recognized ratably which by the nature of the transition has a depressive effect on margins.”,” the firm’s analyst wrote.
Several other equities analysts have also recently weighed in on PTC. Barclays PLC reissued an overweight rating and set a $65.00 price target (down from $67.00) on shares of PTC in a report on Saturday, July 22nd. J P Morgan Chase & Co reissued an overweight rating and set a $68.00 price target on shares of PTC in a report on Thursday, July 20th. Pacific Crest increased their price target on PTC from $62.00 to $67.00 and gave the company an overweight rating in a report on Tuesday, June 6th. BidaskClub cut PTC from a hold rating to a sell rating in a report on Friday, July 28th. Finally, Benchmark Co. began coverage on PTC in a report on Thursday, May 18th. They set a buy rating and a $65.00 price target on the stock. Two investment 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’s stock. PTC currently has an average rating of Buy and a consensus target price of $62.47.
Shares of PTC (PTC) opened at 56.00 on Monday. The company’s market capitalization is $6.47 billion. The company’s 50-day moving average price is $54.96 and its 200-day moving average price is $54.97. PTC has a one year low of $41.40 and a one year high of $60.22.
PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The business had revenue of $291.92 million for the quarter, compared to the consensus estimate of $290.55 million. During the same period last year, the business posted $0.26 EPS. The company’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that PTC will post $1.20 earnings per share for the current year.
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In related news, EVP Anthony Dibona sold 2,205 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total value of $123,215.40. Following the transaction, the executive vice president now directly owns 22,228 shares of the company’s stock, valued at approximately $1,242,100.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Donald K. Grierson sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total value of $268,850.00. Following the completion of the transaction, the director now directly owns 62,300 shares in the company, valued at $3,349,871. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,329 shares of company stock worth $3,588,097. 1.11% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in PTC. Flinton Capital Management LLC boosted its position in shares of PTC by 9.1% in the first quarter. Flinton Capital Management LLC now owns 3,456 shares of the technology company’s stock worth $182,000 after buying an additional 288 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of PTC by 0.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 111,337 shares of the technology company’s stock worth $5,851,000 after buying an additional 411 shares during the last quarter. State Treasurer State of Michigan raised its stake in shares of PTC by 1.1% in the first quarter. State Treasurer State of Michigan now owns 47,039 shares of the technology company’s stock worth $2,472,000 after buying an additional 500 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of PTC by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 68,634 shares of the technology company’s stock worth $3,605,000 after buying an additional 2,536 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of PTC during the first quarter worth about $393,000. 98.15% of the stock is currently owned by 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.
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