PTC Inc. (PTC) Given a $65.00 Price Target by Robert W. Baird Analysts
PTC Inc. (NASDAQ:PTC) received a $65.00 price objective from Robert W. Baird in a research note issued on Friday. The firm presently has a “buy” rating on the technology company’s stock. Robert W. Baird’s price target indicates a potential upside of 11.45% from the stock’s current price.
Other research analysts also recently issued reports about the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 price target on shares of PTC in a report on Monday, September 4th. Evercore ISI set a $65.00 price target on PTC and gave the company a “buy” rating in a report on Monday, August 28th. Berenberg Bank initiated coverage on PTC in a report on Wednesday, August 23rd. They issued a “buy” rating and a $66.00 price target on the stock. BidaskClub upgraded PTC from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on PTC in a report on Monday, July 17th. They issued a “neutral” rating and a $62.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $63.31.
Shares of PTC (NASDAQ PTC) opened at 58.32 on Friday. PTC has a 12-month low of $43.10 and a 12-month high of $60.22. The firm has a 50-day moving average price of $55.71 and a 200 day moving average price of $55.15. The company’s market capitalization is $6.74 billion.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 business’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.
PTC declared that its Board of Directors has authorized a stock buyback program on Tuesday, September 19th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other PTC news, EVP Anthony Dibona sold 2,205 shares of PTC stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total transaction of $123,215.40. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Donald K. Grierson sold 5,000 shares of PTC stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $53.77, for a total value of $268,850.00. Following the sale, the director now directly owns 62,300 shares of the company’s stock, valued at approximately $3,349,871. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,329 shares of company stock worth $3,588,097. 1.11% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Stephens Inc. AR acquired a new stake in PTC during the 2nd quarter worth about $126,000. US Bancorp DE lifted its position in PTC by 56.2% during the 2nd quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock worth $144,000 after acquiring an additional 937 shares during the period. Advisor Group Inc. lifted its position in PTC by 7.4% during the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock worth $150,000 after acquiring an additional 186 shares during the period. PNC Financial Services Group Inc. lifted its position in PTC by 85.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock worth $165,000 after acquiring an additional 1,389 shares during the period. Finally, Asset Management One Co. Ltd. acquired a new stake in PTC during the 1st quarter worth about $189,000. 97.92% of the stock is owned by institutional investors.
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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