PTC (NASDAQ:PTC – Get Rating) had its price objective cut by equities researchers at Rosenblatt Securities from $156.00 to $146.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 30.46% from the company’s current price.
Other research analysts also recently issued research reports about the stock. Royal Bank of Canada dropped their price objective on shares of PTC from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, April 25th. Barclays dropped their price objective on shares of PTC from $141.00 to $120.00 in a research note on Thursday, April 28th. Citigroup dropped their target price on shares of PTC from $120.00 to $116.00 in a research report on Thursday. TheStreet raised shares of PTC from a “c+” rating to a “b-” rating in a research report on Wednesday, April 27th. Finally, Robert W. Baird dropped their target price on shares of PTC from $160.00 to $153.00 in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.38.
PTC Trading Up 0.9 %
NASDAQ:PTC traded up $1.02 on Thursday, reaching $111.91. The stock had a trading volume of 1,080 shares, compared to its average volume of 589,914. The company has a market cap of $13.09 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 2.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s fifty day moving average is $108.89 and its two-hundred day moving average is $109.68. PTC has a 12-month low of $96.55 and a 12-month high of $153.73.
PTC (NASDAQ:PTC – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.34. PTC had a net margin of 25.54% and a return on equity of 19.08%. The company had revenue of $505.23 million during the quarter, compared to the consensus estimate of $482.34 million. During the same quarter in the prior year, the company posted $0.78 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts expect that PTC will post 3.44 EPS for the current fiscal year.
Insiders Place Their Bets
In other PTC news, Director Blake D. Moret sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $116.62, for a total value of $11,662,000.00. Following the completion of the transaction, the director now owns 10,070,234 shares in the company, valued at approximately $1,174,390,689.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Blake D. Moret sold 100,000 shares of the stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $116.62, for a total transaction of $11,662,000.00. Following the completion of the transaction, the director now directly owns 10,070,234 shares in the company, valued at approximately $1,174,390,689.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Staats Aaron C. Von sold 1,800 shares of the stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $116.46, for a total value of $209,628.00. Following the transaction, the executive vice president now owns 24,293 shares of the company’s stock, valued at $2,829,162.78. The disclosure for this sale can be found here. Insiders sold a total of 307,906 shares of company stock worth $36,297,771 in the last 90 days. 10.15% of the stock is owned by company insiders.
Hedge Funds Weigh In On PTC
Several institutional investors and hedge funds have recently made changes to their positions in PTC. Wealthfront Advisers LLC purchased a new position in shares of PTC during the 4th quarter valued at approximately $213,000. Ellevest Inc. lifted its stake in PTC by 13.1% during the fourth quarter. Ellevest Inc. now owns 1,244 shares of the technology company’s stock worth $151,000 after purchasing an additional 144 shares during the last quarter. National Bank of Canada FI bought a new position in PTC during the fourth quarter worth $62,000. Signaturefd LLC lifted its stake in PTC by 23.7% during the fourth quarter. Signaturefd LLC now owns 767 shares of the technology company’s stock worth $93,000 after purchasing an additional 147 shares during the last quarter. Finally, Stanley Laman Group Ltd. bought a new position in PTC during the fourth quarter worth $2,587,000. 86.56% of the stock is currently owned by hedge funds and other institutional investors.
PTC Company Profile
PTC Inc operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers a set of capabilities that enable enterprises to digitally transform every aspect of their business with innovative solutions that are simple to create, easy to implement, scalable to meet future needs, and designed to enable customers to accelerate time to value; and Vuforia, which enables the visualization of digital information in a physical context and the creation of AR.