BidaskClub Downgrades PTC (PTC) to Hold

BidaskClub downgraded shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a report issued on Wednesday.

Several other equities research analysts also recently issued reports on PTC. Guggenheim assumed coverage on PTC in a report on Tuesday, August 7th. They set a buy rating and a $115.00 price target for the company. Zacks Investment Research upgraded PTC from a strong sell rating to a hold rating in a report on Wednesday, July 25th. Mitsubishi UFJ Financial Group upped their price target on PTC to $81.00 and gave the stock a neutral rating in a report on Thursday, July 19th. Cowen set a $113.00 price target on PTC and gave the stock a buy rating in a report on Thursday, July 19th. Finally, Berenberg Bank reiterated a buy rating and set a $115.00 price target on shares of PTC in a report on Thursday, July 19th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $99.13.

PTC stock traded down $3.08 during trading on Wednesday, hitting $79.98. 2,787,404 shares of the company were exchanged, compared to its average volume of 1,540,383. PTC has a 52 week low of $59.40 and a 52 week high of $107.44. The company has a market capitalization of $9.79 billion, a P/E ratio of 93.33, a price-to-earnings-growth ratio of 1.71 and a beta of 1.24. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.74.



PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. PTC had a return on equity of 11.97% and a net margin of 4.19%. The business had revenue of $312.52 million during the quarter, compared to the consensus estimate of $322.00 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. PTC’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that PTC will post 1.34 EPS for the current year.

In other PTC news, CFO Andrew Miller sold 34,453 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $92.16, for a total value of $3,175,188.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip M. Fernandez sold 250 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $102.46, for a total value of $25,615.00. Following the completion of the transaction, the director now owns 20,912 shares of the company’s stock, valued at approximately $2,142,643.52. The disclosure for this sale can be found here. Insiders sold a total of 71,608 shares of company stock valued at $6,625,938 in the last 90 days. Corporate insiders own 1.19% of the company’s stock.

Large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of 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 buying an additional 260,827 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of PTC by 4.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 514,575 shares of the technology company’s stock valued at $48,273,000 after buying an additional 23,657 shares during the last quarter. Laurion Capital Management LP lifted its position in shares of PTC by 34.8% during the 2nd quarter. Laurion Capital Management LP now owns 12,400 shares of the technology company’s stock valued at $1,163,000 after buying an additional 3,204 shares during the last quarter. Amalgamated Bank lifted its position in shares of PTC by 8.6% during the 2nd quarter. Amalgamated Bank now owns 27,900 shares of the technology company’s stock valued at $2,617,000 after buying an additional 2,220 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of PTC by 51.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 125,600 shares of the technology company’s stock valued at $11,783,000 after buying an additional 42,600 shares during the last quarter. Hedge funds and other institutional investors own 94.37% of the company’s stock.

PTC Company Profile

PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; 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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