Shares of PTC Inc. (NASDAQ:PTC) have received a consensus recommendation of “Buy” from the nineteen ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $63.31.

PTC has been the subject of a number of analyst reports. Evercore ISI set a $65.00 price objective on PTC and gave the stock a “buy” rating in a research report on Monday, August 28th. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 price objective on shares of PTC in a research report on Monday, September 4th. Berenberg Bank initiated coverage on PTC in a research report on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price objective for the company. Goldman Sachs Group, Inc. (The) initiated coverage on PTC in a research report on Monday, July 17th. They set a “neutral” rating and a $62.00 price objective for the company. Finally, BidaskClub downgraded PTC from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.

COPYRIGHT VIOLATION WARNING: This story was reported by Watch List News and is the property of of Watch List News. If you are viewing this story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The legal version of this story can be accessed at https://www.watchlistnews.com/ptc-inc-ptc-receives-average-recommendation-of-buy-from-brokerages/1585742.html.

In other PTC news, VP Staats Aaron C. Von sold 5,750 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $55.26, for a total value of $317,745.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Anthony Dibona sold 2,205 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders sold 65,329 shares of company stock valued at $3,588,097. 1.11% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in PTC. Stephens Inc. AR purchased a new stake in shares of PTC during the second quarter worth approximately $126,000. Toronto Dominion Bank raised its position in PTC by 10.0% in the first quarter. Toronto Dominion Bank now owns 2,475 shares of the technology company’s stock worth $130,000 after acquiring an additional 225 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in PTC in the first quarter worth $132,000. US Bancorp DE raised its position in PTC by 56.2% in the second quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock worth $144,000 after acquiring an additional 937 shares in the last quarter. Finally, Advisor Group Inc. raised its position in PTC by 7.4% in the second quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock worth $150,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $290.55 million. During the same period in the previous year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis.

PTC announced that its Board of Directors has authorized a share buyback plan on Tuesday, September 19th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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)

Receive News & Ratings for PTC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.