Bank of America Corporation started coverage on shares of PTC Inc. (NASDAQ:PTC) in a research report released on Monday, November 6th, Marketbeat reports. The firm issued an underperform rating and a $60.00 target price on the technology company’s stock.
Several other research firms have also weighed in on PTC. Barclays PLC reissued an overweight rating and issued a $65.00 target price (down previously from $67.00) on shares of PTC in a report on Saturday, July 22nd. J P Morgan Chase & Co reissued an overweight rating and issued a $68.00 price target on shares of PTC in a research note on Thursday, July 20th. BidaskClub upgraded PTC from a sell rating to a hold rating in a report on Tuesday, September 26th. Royal Bank Of Canada restated a buy rating and issued a $74.00 price objective on shares of PTC in a report on Friday, October 27th. Finally, Robert W. Baird reiterated a buy rating and set a $65.00 target price on shares of PTC in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $65.88.
Shares of PTC (PTC) opened at $64.28 on Monday. PTC has a one year low of $45.57 and a one year high of $67.12. The stock has a market cap of $7,465.93, a PE ratio of 109.46 and a beta of 1.37. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.05.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.02). The business had revenue of $306.38 million during the quarter, compared to analyst estimates of $306.59 million. PTC had a net margin of 0.54% and a return on equity of 8.08%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. sell-side analysts anticipate that PTC will post 0.81 EPS for the current fiscal year.
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PTC declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 19th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the technology company to buy up to 7.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, Director Paul A. Lacy sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $65.81, for a total transaction of $263,240.00. Following the completion of the transaction, the director now owns 61,486 shares in the company, valued at approximately $4,046,393.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Schechter sold 1,128 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.88, for a total value of $75,440.64. Following the transaction, the director now owns 64,826 shares of the company’s stock, valued at approximately $4,335,562.88. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in PTC during the 3rd quarter valued at $907,000. Vident Investment Advisory LLC raised its stake in PTC by 63.4% during the 3rd quarter. Vident Investment Advisory LLC now owns 223,957 shares of the technology company’s stock valued at $12,604,000 after acquiring an additional 86,925 shares in the last quarter. Lagoda Investment Management L.P. raised its stake in PTC by 6.7% during the 3rd quarter. Lagoda Investment Management L.P. now owns 135,038 shares of the technology company’s stock valued at $7,600,000 after acquiring an additional 8,510 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in PTC by 8.1% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 200,000 shares of the technology company’s stock valued at $11,256,000 after acquiring an additional 15,000 shares in the last quarter. Finally, OZ Management LP bought a new stake in shares of PTC in the 3rd quarter worth $187,542,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.
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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