PTC Inc (PTC) Given New $64.00 Price Target at Wedbush
PTC Inc (NASDAQ:PTC) had its price target upped by Wedbush from $59.00 to $64.00 in a research note published on Thursday morning. They currently have an outperform rating on the technology company’s stock.
Several other analysts also recently commented on PTC. Evercore ISI reaffirmed a buy rating and set a $65.00 price objective on shares of PTC in a research note on Thursday. Guggenheim began coverage on PTC in a research note on Wednesday, April 12th. They set a neutral rating and a $50.00 price objective on the stock. They noted that the move was a valuation call. Barclays PLC set a $60.00 price objective on PTC and gave the stock a buy rating in a research note on Thursday, January 19th. Mitsubishi UFJ Financial Group reaffirmed a neutral rating on shares of PTC in a research note on Thursday, January 19th. Finally, Citigroup Inc reaffirmed a buy rating and set a $60.00 price objective (up previously from $55.00) on shares of PTC in a research note on Thursday, January 19th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $60.31.
PTC (NASDAQ:PTC) traded down 1.98% during mid-day trading on Thursday, hitting $51.93. The stock had a trading volume of 1,568,780 shares. The firm’s market cap is $6.01 billion. The stock has a 50 day moving average of $53.62 and a 200-day moving average of $50.02. PTC has a 1-year low of $34.64 and a 1-year high of $56.73.
PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, April 19th. The technology company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The business had revenue of $280 million for the quarter, compared to the consensus estimate of $283.81 million. PTC had a positive return on equity of 7.04% and a negative net margin of 3.50%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. Analysts predict that PTC will post $1.26 EPS for the current fiscal year.
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In other PTC news, insider James E. Heppelmann sold 25,000 shares of the stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $52.22, for a total transaction of $1,305,500.00. Following the completion of the transaction, the insider now owns 611,022 shares in the company, valued at approximately $31,907,568.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Phillip M. Fernandez sold 500 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $55.62, for a total value of $27,810.00. Following the transaction, the director now owns 12,575 shares of the company’s stock, valued at approximately $699,421.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,553 shares of company stock valued at $4,009,526. Corporate insiders own 1.02% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC boosted its position in shares of PTC by 6.9% in the third quarter. TIAA CREF Investment Management LLC now owns 449,849 shares of the technology company’s stock valued at $19,933,000 after buying an additional 29,037 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of PTC by 8.4% in the third quarter. Teachers Advisors LLC now owns 110,177 shares of the technology company’s stock valued at $4,882,000 after buying an additional 8,568 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of PTC by 3.8% in the third quarter. BlackRock Fund Advisors now owns 4,455,776 shares of the technology company’s stock valued at $197,435,000 after buying an additional 162,936 shares during the last quarter. BlackRock Investment Management LLC boosted its position in shares of PTC by 2.1% in the third quarter. BlackRock Investment Management LLC now owns 410,596 shares of the technology company’s stock valued at $18,194,000 after buying an additional 8,415 shares during the last quarter. Finally, DIAM Co. Ltd. bought a new position in shares of PTC during the third quarter valued at $172,000. Institutional investors own 97.51% of the company’s stock.
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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