PTC Inc (NASDAQ:PTC) had its target price raised by Barclays PLC from $60.00 to $67.00 in a report issued on Thursday morning. The brokerage currently has an overweight rating on the technology company’s stock.
PTC has been the topic of a number of other reports. Zacks Investment Research cut shares of PTC from a buy rating to a hold rating in a report on Wednesday, December 28th. Guggenheim began coverage on shares of PTC in a report on Wednesday, April 12th. They issued a neutral rating and a $50.00 price target on the stock. They noted that the move was a valuation call. Evercore ISI restated a buy rating and issued a $65.00 price target on shares of PTC in a report on Thursday. Seaport Global Securities began coverage on shares of PTC in a report on Wednesday, March 1st. They issued a buy rating and a $69.00 price target on the stock. Finally, Wedbush restated an outperform rating and issued a $59.00 price target (up from $56.00) on shares of PTC in a report on Thursday, January 19th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. PTC currently has a consensus rating of Buy and an average target price of $60.31.
Shares of PTC (NASDAQ:PTC) traded down 1.98% during trading on Thursday, hitting $51.93. 1,568,279 shares of the stock were exchanged. The stock’s market cap is $6.01 billion. PTC has a 52-week low of $34.64 and a 52-week high of $56.73. The firm has a 50 day moving average of $53.62 and a 200-day moving average of $50.02.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.02. The firm had revenue of $280 million for the quarter, compared to analysts’ expectations of $283.81 million. PTC had a negative net margin of 3.50% and a positive return on equity of 7.04%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. Equities research analysts anticipate that PTC will post $1.26 earnings per share for the current fiscal year.
In other PTC news, VP Staats Aaron C. Von sold 7,500 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $50.13, for a total transaction of $375,975.00. Following the completion of the sale, the vice president now directly owns 26,815 shares of the company’s stock, valued at $1,344,235.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Matthew Lessner Cohen sold 14,553 shares of the stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $50.02, for a total transaction of $727,941.06. Following the sale, the executive vice president now directly owns 18,250 shares of the company’s stock, valued at $912,865. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,553 shares of company stock worth $4,009,526. 1.02% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Anavon Capital LLP purchased a new stake in PTC during the fourth quarter valued at approximately $1,349,000. Meeder Asset Management Inc. purchased a new stake in PTC during the third quarter valued at approximately $114,000. Flinton Capital Management LLC purchased a new stake in PTC during the fourth quarter valued at approximately $147,000. DIAM Co. Ltd. purchased a new stake in PTC during the third quarter valued at approximately $172,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PTC by 10.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,957 shares of the technology company’s stock valued at $220,000 after buying an additional 449 shares during the last quarter. 97.51% of the stock is owned by institutional investors and hedge funds.
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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