Rosenblatt Securities Reiterates “Buy” Rating for PTC (NASDAQ:PTC)

PTC (NASDAQ:PTC)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $227.00 price target on the technology company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 14.33% from the stock’s previous close.

Several other equities analysts also recently issued reports on PTC. Royal Bank Of Canada lifted their price objective on PTC from $224.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Cantor Fitzgerald set a $120.00 target price on PTC and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Stifel Nicolaus upped their price target on shares of PTC from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Barclays set a $233.00 price objective on shares of PTC in a research report on Thursday, July 31st. Finally, BMO Capital Markets upped their target price on shares of PTC from $187.00 to $231.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.31.

PTC Stock Up 0.6%

Shares of NASDAQ:PTC opened at $198.54 on Thursday. PTC has a 52 week low of $133.38 and a 52 week high of $219.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. The company’s fifty day moving average is $205.49 and its 200-day moving average is $188.16. The company has a market capitalization of $23.78 billion, a PE ratio of 46.83, a P/E/G ratio of 1.90 and a beta of 1.14.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.42. The firm had revenue of $643.94 million during the quarter, compared to the consensus estimate of $582.12 million. PTC had a net margin of 20.74% and a return on equity of 17.09%. The firm’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. Equities research analysts predict that PTC will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total value of $429,984.52. Following the transaction, the executive vice president directly owned 15,743 shares in the company, valued at $3,405,053.47. This represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of PTC

A number of institutional investors have recently bought and sold shares of the business. Motco acquired a new position in shares of PTC in the 1st quarter valued at $29,000. Root Financial Partners LLC bought a new stake in PTC in the third quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in PTC in the first quarter valued at about $33,000. SJS Investment Consulting Inc. boosted its holdings in PTC by 2,257.1% during the third quarter. SJS Investment Consulting Inc. now owns 165 shares of the technology company’s stock worth $34,000 after buying an additional 158 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in shares of PTC during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.