Mizuho Raises PTC (NASDAQ:PTC) Price Target to $105.00

PTC (NASDAQ:PTC) had its price objective boosted by Mizuho from $100.00 to $105.00 in a report published on Thursday morning, The Fly reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts have also issued reports on PTC. BidaskClub lowered PTC from a hold rating to a sell rating in a research report on Thursday, October 8th. Royal Bank of Canada upped their price objective on shares of PTC from $82.00 to $89.00 and gave the stock a sector perform rating in a report on Thursday, July 30th. Loop Capital assumed coverage on shares of PTC in a research report on Tuesday, September 15th. They issued a buy rating and a $110.00 target price for the company. Barclays boosted their price target on shares of PTC from $82.00 to $94.00 and gave the stock an overweight rating in a research report on Monday, July 20th. Finally, Stifel Nicolaus upgraded shares of PTC from a hold rating to a buy rating and increased their price objective for the company from $85.00 to $100.00 in a report on Thursday, July 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $100.64.

Shares of NASDAQ:PTC opened at $87.62 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $85.95 and its 200 day moving average price is $78.07. The company has a market cap of $10.17 billion, a PE ratio of 116.83, a P/E/G ratio of 1.52 and a beta of 1.20. PTC has a fifty-two week low of $43.90 and a fifty-two week high of $97.67.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.44 by $0.18. The company had revenue of $352.00 million for the quarter, compared to analyst estimates of $333.22 million. PTC had a net margin of 6.21% and a return on equity of 16.99%. PTC’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 earnings per share. As a group, equities analysts anticipate that PTC will post 1.64 EPS for the current year.

In other PTC news, CEO James E. Heppelmann sold 15,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $86.28, for a total transaction of $1,294,200.00. Following the completion of the sale, the chief executive officer now directly owns 622,572 shares of the company’s stock, valued at $53,715,512.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Corinna Lathan sold 1,667 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $87.24, for a total transaction of $145,429.08. Insiders have sold a total of 17,167 shares of company stock valued at $1,480,822 in the last quarter. Insiders own 10.13% of the company’s stock.

Several large investors have recently modified their holdings of PTC. Signaturefd LLC grew its holdings in shares of PTC by 25.7% during the second quarter. Signaturefd LLC now owns 577 shares of the technology company’s stock valued at $45,000 after buying an additional 118 shares in the last quarter. Glenmede Trust Co. NA acquired a new stake in PTC during the 2nd quarter worth about $55,000. tru Independence LLC purchased a new position in PTC during the 2nd quarter valued at about $57,000. Private Advisor Group LLC purchased a new position in PTC during the 2nd quarter valued at about $94,000. Finally, Cerebellum GP LLC acquired a new position in shares of PTC in the 2nd quarter valued at about $128,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

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 Creo, a suite of product design software that provides capabilities for design flexibility, advanced assembly design, piping and cabling design, advanced surfacing, comprehensive virtual prototyping, and other design functions; Windchill, a product lifecycle management software; ThingWorx, which includes cloud-based tools that allow customers to connect products and devices to the cloud; and Vuforia Studio, a cloud-based tool that enables industrial enterprises to author and publish augmented reality experiences.

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