Q2 2020 Earnings Estimate for PTC Inc (PTC) Issued By Wedbush
PTC Inc (NASDAQ:PTC) – Stock analysts at Wedbush upped their Q2 2020 earnings per share estimates for PTC in a report released on Monday, April 8th. Wedbush analyst S. Koenig now forecasts that the technology company will post earnings of $0.45 per share for the quarter, up from their prior estimate of $0.42. Wedbush currently has a “Outperform” rating and a $110.00 target price on the stock. Wedbush also issued estimates for PTC’s Q3 2020 earnings at $0.48 EPS, Q4 2020 earnings at $0.56 EPS and FY2020 earnings at $1.91 EPS.
PTC has been the subject of several other reports. Barclays reaffirmed a “buy” rating and set a $104.00 price objective on shares of PTC in a research note on Friday, January 25th. Guggenheim set a $100.00 price objective on PTC and gave the company a “buy” rating in a research note on Tuesday, January 22nd. Zacks Investment Research downgraded PTC from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. BidaskClub cut PTC from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Evercore ISI reiterated a “buy” rating and set a $110.00 target price on shares of PTC in a research report on Monday, March 11th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $102.44.
PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, January 23rd. The technology company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.15. The business had revenue of $334.96 million during the quarter, compared to the consensus estimate of $324.70 million. PTC had a return on equity of 12.70% and a net margin of 4.65%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS.
In related news, EVP Matthew Lessner Cohen sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $86.56, for a total value of $1,298,400.00. Following the sale, the executive vice president now owns 47,934 shares in the company, valued at approximately $4,149,167.04. The transaction 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 the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $93.31, for a total value of $466,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 154,127 shares of company stock worth $13,548,383 in the last quarter. 9.91% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pendal Group Ltd lifted its stake in shares of PTC by 3.4% during the 4th quarter. Pendal Group Ltd now owns 5,349 shares of the technology company’s stock worth $443,000 after purchasing an additional 177 shares during the period. M&T Bank Corp raised its position in PTC by 3.6% in the fourth quarter. M&T Bank Corp now owns 5,110 shares of the technology company’s stock valued at $423,000 after purchasing an additional 179 shares during the period. Campbell Newman Asset Management Inc. raised its position in PTC by 2.5% in the first quarter. Campbell Newman Asset Management Inc. now owns 7,327 shares of the technology company’s stock valued at $675,000 after purchasing an additional 180 shares during the period. PNC Financial Services Group Inc. raised its position in PTC by 7.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,837 shares of the technology company’s stock valued at $236,000 after purchasing an additional 195 shares during the period. Finally, MetLife Investment Advisors LLC raised its position in PTC by 0.3% in the fourth quarter. MetLife Investment Advisors LLC now owns 65,142 shares of the technology company’s stock valued at $5,400,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.
PTC Company Profile
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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