PTC Inc (PTC) Receives $98.80 Consensus Price Target from Analysts

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PTC Inc (NASDAQ:PTC) has been assigned a consensus rating of “Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $99.19.

Several research firms recently commented on PTC. Stifel Nicolaus began coverage on PTC in a research note on Tuesday. They issued a “buy” rating and a $105.00 price objective for the company. BidaskClub downgraded PTC from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Cowen set a $105.00 price objective on PTC and gave the company a “buy” rating in a research note on Sunday, October 28th. Finally, JPMorgan Chase & Co. reduced their price objective on PTC to $96.00 in a research note on Friday, October 26th.

In other news, EVP Staats Aaron C. Von sold 11,907 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $87.62, for a total transaction of $1,043,291.34. Following the completion of the transaction, the executive vice president now directly owns 23,981 shares in the company, valued at approximately $2,101,215.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Phillip M. Fernandez sold 250 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $102.46, for a total value of $25,615.00. Following the transaction, the director now owns 20,912 shares of the company’s stock, valued at $2,142,643.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,231 shares of company stock valued at $12,779,065. 1.19% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in PTC by 2.5% during the 2nd quarter. BlackRock Inc. now owns 10,657,911 shares of the technology company’s stock valued at $999,819,000 after acquiring an additional 260,827 shares during the period. Allianz Asset Management GmbH boosted its holdings in PTC by 8.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,672,242 shares of the technology company’s stock valued at $177,575,000 after acquiring an additional 133,078 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in PTC by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,516,888 shares of the technology company’s stock valued at $161,077,000 after acquiring an additional 58,441 shares during the period. Victory Capital Management Inc. boosted its holdings in PTC by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,049,266 shares of the technology company’s stock valued at $111,422,000 after acquiring an additional 18,880 shares during the period. Finally, Millennium Management LLC boosted its holdings in PTC by 225.6% during the 2nd quarter. Millennium Management LLC now owns 1,038,404 shares of the technology company’s stock valued at $97,413,000 after acquiring an additional 719,478 shares during the period. Institutional investors and hedge funds own 91.48% of the company’s stock.

Shares of PTC stock traded up $2.23 during trading hours on Wednesday, hitting $85.76. 307,711 shares of the company’s stock were exchanged, compared to its average volume of 1,459,807. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 95.29, a PEG ratio of 2.28 and a beta of 1.50. PTC has a fifty-two week low of $59.40 and a fifty-two week high of $107.44.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, October 24th. The technology company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The business had revenue of $312.52 million during the quarter, compared to the consensus estimate of $322.00 million. PTC had a return on equity of 11.97% and a net margin of 4.19%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. Analysts anticipate that PTC will post 1.11 earnings per share for the current fiscal year.

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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Analyst Recommendations for PTC (NASDAQ:PTC)

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