Evercore ISI Analysts Give PTC Inc. (PTC) a $65.00 Price Target
Other equities research analysts have also issued reports about the company. Royal Bank Of Canada restated a buy rating and set a $65.00 price target on shares of PTC in a research note on Monday, September 4th. Robert W. Baird restated a buy rating and set a $65.00 price target on shares of PTC in a research note on Thursday, August 31st. Berenberg Bank initiated coverage on PTC in a research note on Wednesday, August 23rd. They set a buy rating and a $66.00 price target for the company. BidaskClub upgraded PTC from a hold rating to a buy rating in a research note on Wednesday, October 11th. Finally, Goldman Sachs Group, Inc. (The) began coverage on PTC in a research note on Monday, July 17th. They set a neutral rating and a $62.00 price target for the company. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $63.31.
Shares of PTC (NASDAQ PTC) traded up 1.00% during trading on Thursday, reaching $60.72. The company had a trading volume of 735,702 shares. PTC has a 52 week low of $43.10 and a 52 week high of $61.13. The firm has a 50-day moving average of $57.18 and a 200 day moving average of $55.66. The firm’s market capitalization is $7.02 billion.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $291.92 million during the quarter, compared to analyst estimates of $290.55 million. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 earnings per share. On average, equities research analysts forecast that PTC will post $1.19 earnings per share for the current year.
PTC declared that its board has approved a share repurchase program on Tuesday, September 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to buy up to 7.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In related news, EVP Anthony Dibona sold 2,205 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 22,228 shares of the company’s stock, valued at approximately $1,242,100.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $55.27, for a total value of $1,381,750.00. Following the completion of the sale, the insider now directly owns 561,022 shares in the company, valued at approximately $31,007,685.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,955 shares of company stock worth $2,091,560. 1.11% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tributary Capital Management LLC acquired a new stake in PTC in the 3rd quarter valued at approximately $109,000. Stephens Inc. AR acquired a new stake in PTC in the 2nd quarter valued at approximately $126,000. US Bancorp DE increased its position in PTC by 56.2% in the 2nd quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock valued at $144,000 after acquiring an additional 937 shares during the period. Advisor Group Inc. increased its position in PTC by 7.4% in the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after acquiring an additional 186 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in PTC by 85.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock valued at $165,000 after acquiring an additional 1,389 shares during the period. 97.59% of the stock is currently owned by institutional investors and hedge funds.
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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