PTC (NASDAQ:PTC) Releases Earnings Results, Beats Estimates By $0.06 EPS

PTC (NASDAQ:PTC) posted its quarterly earnings data on Wednesday. The technology company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06, FiscalAI reports. PTC had a return on equity of 19.61% and a net margin of 37.80%. The business had revenue of $673.25 million during the quarter, compared to the consensus estimate of $663.56 million. During the same period last year, the company earned $3.41 earnings per share. PTC’s quarterly revenue was down 24.7% on a year-over-year basis.

PTC Stock Up 0.2%

PTC traded up $0.31 on Friday, hitting $194.91. 910,498 shares of the company were exchanged, compared to its average volume of 1,749,842. PTC has a 12 month low of $108.50 and a 12 month high of $196.05. The company has a market cap of $21.15 billion, a PE ratio of 22.05, a PEG ratio of 2.56 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day moving average is $166.26 and its 200-day moving average is $147.94.

Analyst Ratings Changes

A number of research firms have weighed in on PTC. BMO Capital Markets downgraded PTC from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $164.00 to $205.00 in a research report on Tuesday, October 6th. Robert W. Baird downgraded shares of PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. KeyCorp lowered shares of PTC from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft cut shares of PTC to a “hold” rating and set a $205.00 target price for the company. in a report on Monday, October 5th. Finally, Citigroup raised their target price on shares of PTC from $141.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $200.06.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 1,750 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the transaction, the director directly owned 6,679 shares in the company, valued at $1,307,414.25. This trade represents a 20.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

About PTC

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.