PTC (NASDAQ:PTC) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a research report released on Thursday morning, reports. Zacks Investment Research currently has $100.00 price objective 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. “

A number of other research firms have also weighed in on PTC. Evercore ISI reiterated a hold rating and set a $70.00 price objective on shares of Akamai Technologies in a research note on Thursday, June 13th. BidaskClub lowered Zebra Technologies from a buy rating to a hold rating in a research note on Tuesday, July 16th. Wedbush restated an outperform rating on shares of Alphabet in a research note on Thursday, April 25th. ValuEngine lowered China Southern Airlines from a hold rating to a sell rating in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. restated a hold rating and issued a $7.00 price target on shares of Deutsche Bank in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $101.08.

NASDAQ PTC opened at $87.99 on Thursday. The company’s 50-day moving average is $88.49. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 83.01, a P/E/G ratio of 2.59 and a beta of 1.19. PTC has a fifty-two week low of $76.67 and a fifty-two week high of $107.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.32.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. The business had revenue of $315.50 million during the quarter, compared to analyst estimates of $312.29 million. PTC had a return on equity of 11.68% and a net margin of 3.06%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. Sell-side analysts expect that PTC will post 1.05 earnings per share for the current year.

In related news, insider James E. Heppelmann sold 15,000 shares of PTC stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $89.02, for a total value of $1,335,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 16,050 shares of company stock valued at $1,430,916. 9.91% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of PTC. Arlington Partners LLC acquired a new stake in PTC in the 2nd quarter worth about $64,000. Machina Capital S.A.S. boosted its holdings in PTC by 17,775.0% in the 2nd quarter. Machina Capital S.A.S. now owns 715 shares of the technology company’s stock worth $64,000 after buying an additional 711 shares during the last quarter. First Manhattan Co. acquired a new stake in PTC in the 1st quarter worth about $92,000. Manchester Capital Management LLC acquired a new stake in PTC in the 1st quarter worth about $115,000. Finally, Pearl River Capital LLC boosted its holdings in PTC by 201.7% in the 1st quarter. Pearl River Capital LLC now owns 2,112 shares of the technology company’s stock worth $194,000 after buying an additional 1,412 shares during the last quarter. Institutional investors own 92.49% 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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