BidaskClub cut shares of PTC Inc. (NASDAQ:PTC) from a hold rating to a sell rating in a research note released on Friday morning.

Several other brokerages have also recently commented on PTC. Pacific Crest lifted their price objective on shares of PTC from $62.00 to $67.00 and gave the company an overweight rating in a research note on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of PTC in a research note on Monday, July 17th. They set a neutral rating and a $62.00 price objective for the company. J P Morgan Chase & Co restated an overweight rating and set a $68.00 price objective on shares of PTC in a research note on Thursday, July 20th. Wedbush restated an outperform rating and set a $59.00 price objective on shares of PTC in a research note on Tuesday, April 11th. Finally, Guggenheim restated a neutral rating and set a $50.00 price objective on shares of PTC in a research note on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $62.25.

PTC (NASDAQ PTC) traded up 0.27% on Friday, reaching $55.34. 332,052 shares of the company’s stock traded hands. The stock’s market cap is $6.40 billion. PTC has a 12-month low of $39.19 and a 12-month high of $60.22. The stock has a 50 day moving average price of $56.66 and a 200 day moving average price of $54.67.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The business had revenue of $291.92 million during the quarter, compared to analysts’ expectations of $290.55 million. During the same period in the previous year, the business posted $0.26 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. Analysts forecast that PTC will post $1.20 EPS for the current year.

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In other PTC news, EVP Anthony Dibona sold 2,205 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total transaction of $123,215.40. Following the completion of the transaction, the executive vice president now directly owns 22,228 shares in the company, valued at $1,242,100.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry F. Cohen sold 27,374 shares of the company’s stock in a transaction on Friday, July 21st. The stock was sold at an average price of $54.67, for a total transaction of $1,496,536.58. Following the transaction, the executive vice president now owns 79,729 shares of the company’s stock, valued at $4,358,784.43. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. Guggenheim Capital LLC boosted its position in PTC by 122.3% in the fourth quarter. Guggenheim Capital LLC now owns 26,804 shares of the technology company’s stock worth $1,241,000 after buying an additional 14,745 shares in the last quarter. AQR Capital Management LLC boosted its position in PTC by 115.2% in the fourth quarter. AQR Capital Management LLC now owns 16,700 shares of the technology company’s stock worth $773,000 after buying an additional 8,941 shares in the last quarter. Quadrature Capital Ltd bought a new position in PTC during the fourth quarter worth $362,000. UBS Asset Management Americas Inc. boosted its position in PTC by 1,572.4% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,457,367 shares of the technology company’s stock worth $67,431,000 after buying an additional 1,370,223 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in PTC by 235.8% in the fourth quarter. Teachers Advisors LLC now owns 369,978 shares of the technology company’s stock worth $17,119,000 after buying an additional 259,801 shares in the last quarter. Institutional investors own 96.40% of the company’s stock.

About PTC

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.

Analyst Recommendations for PTC (NASDAQ:PTC)

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