PTC (PTC) Lowered to “Neutral” at J P Morgan Chase & Co
PTC (NASDAQ:PTC) was downgraded by equities researchers at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday.
PTC has been the subject of several other research reports. KeyCorp reissued a “buy” rating and issued a $74.00 price objective (up previously from $64.00) on shares of PTC in a research note on Thursday, October 26th. Wedbush reissued an “outperform” rating and issued a $69.00 price objective on shares of PTC in a research note on Tuesday, November 14th. BidaskClub raised shares of PTC from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Evercore ISI set a $65.00 price objective on shares of PTC and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, Barclays increased their price objective on shares of PTC from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. PTC currently has a consensus rating of “Buy” and a consensus price target of $65.88.
Shares of PTC (PTC) opened at $61.44 on Tuesday. PTC has a twelve month low of $45.72 and a twelve month high of $67.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.80. The firm has a market cap of $7,164.93, a P/E ratio of 104.58 and a beta of 1.33.
PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). PTC had a return on equity of 8.08% and a net margin of 0.54%. The firm had revenue of $306.38 million for the quarter, compared to the consensus estimate of $306.59 million. During the same period last year, the company posted $0.20 EPS. The business’s revenue was up 6.3% on a year-over-year basis. research analysts forecast that PTC will post 0.81 earnings per share for the current year.
PTC announced that its board has authorized a stock buyback program on Tuesday, September 19th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to repurchase up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, insider James E. Heppelmann sold 25,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $64.58, for a total transaction of $1,614,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Schechter sold 1,128 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.88, for a total transaction of $75,440.64. Following the sale, the director now owns 64,826 shares of the company’s stock, valued at $4,335,562.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,924 shares of company stock valued at $3,627,304. 1.02% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of PTC. Tributary Capital Management LLC acquired a new stake in PTC in the third quarter worth $109,000. Stephens Inc. AR acquired a new stake in PTC in the second quarter worth $126,000. US Bancorp DE grew its holdings 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 purchasing an additional 937 shares during the period. Advisor Group Inc. grew its holdings 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 purchasing an additional 186 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in PTC by 85.5% in the second quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock worth $165,000 after purchasing an additional 1,389 shares during the period. Institutional investors and hedge funds own 97.99% of the company’s stock.
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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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