PTC Inc. (PTC) Receives Average Recommendation of “Buy” from Brokerages
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.
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.
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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