Zacks Investment Research upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a strong-buy rating in a research report sent to investors on Friday, Zacks.com reports. They currently have $109.00 price target on the technology company’s stock.
According to Zacks, “PTC Inc. develops, markets, and supports software solutions. The company offers enterprise solutions and desktop solutions. Its principal Enterprise Solutions are Windchill, Arbortext, Creo View and Integrity. The Company’s Desktop Solutions include its integrated Creo software suite, its Mathcad engineering calculations software and its Arbortext document authoring tools. It also offers consultation, implementation, training, and maintenance services. PTC Inc., formerly known as Parametric Technology Corporation, is headquartered in Needham, Massachusetts. “
Several other research firms also recently weighed in on PTC. KeyCorp assumed coverage on shares of PTC in a research report on Wednesday, April 10th. They set an overweight rating and a $111.00 target price on the stock. BidaskClub raised shares of PTC from a hold rating to a buy rating in a report on Thursday, February 14th. Mitsubishi UFJ Financial Group dropped their price objective on shares of PTC from $80.00 to $78.00 and set a neutral rating on the stock in a report on Thursday, January 24th. Deutsche Bank assumed coverage on shares of PTC in a report on Wednesday, January 16th. They issued a buy rating and a $115.00 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on shares of PTC in a report on Tuesday, December 18th. They issued a buy rating and a $105.00 price objective on the stock. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $104.18.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, January 23rd. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.15. The company had revenue of $334.96 million for the quarter, compared to the consensus estimate of $324.70 million. PTC had a net margin of 4.65% and a return on equity of 12.70%. PTC’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. On average, equities research analysts expect that PTC will post 1.07 earnings per share for the current year.
In related news, Director Donald K. Grierson sold 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $93.31, for a total value of $466,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew Miller sold 44,462 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $93.31, for a total transaction of $4,148,749.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,127 shares of company stock valued at $13,548,383. Company insiders own 9.91% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC lifted its stake in shares of PTC by 62.5% in the 1st quarter. Quantitative Systematic Strategies LLC now owns 6,411 shares of the technology company’s stock valued at $591,000 after purchasing an additional 2,466 shares during the period. Sciencast Management LP lifted its stake in shares of PTC by 108.4% in the 1st quarter. Sciencast Management LP now owns 10,210 shares of the technology company’s stock valued at $962,000 after purchasing an additional 5,310 shares during the period. Retirement Systems of Alabama raised its position in PTC by 0.3% during the first quarter. Retirement Systems of Alabama now owns 158,983 shares of the technology company’s stock worth $14,655,000 after acquiring an additional 511 shares during the period. Louisiana State Employees Retirement System raised its position in PTC by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 28,600 shares of the technology company’s stock worth $2,636,000 after acquiring an additional 300 shares during the period. Finally, First Manhattan Co. acquired a new position in PTC during the first quarter worth $92,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.
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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