Barclays PLC set a $60.00 price objective on PTC Inc. (NASDAQ:PTC) in a research report report published on Thursday morning. The brokerage currently has a buy rating on the stock.
PTC has been the topic of a number of other reports. Zacks Investment Research upgraded PTC from a sell rating to a hold rating in a report on Thursday, September 29th. KeyCorp reiterated a buy rating and issued a $55.00 price objective on shares of PTC in a report on Thursday, November 10th. Brean Capital reiterated a buy rating and issued a $55.00 price objective on shares of PTC in a report on Thursday, October 27th. Wedbush reiterated an outperform rating and issued a $59.00 price objective (up from $56.00) on shares of PTC in a report on Thursday, January 19th. Finally, Royal Bank Of Canada upped their price objective on PTC from $53.00 to $55.00 and gave the company an outperform rating in a report on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $53.85.
Shares of PTC (NASDAQ:PTC) traded up 1.34% during mid-day trading on Thursday, reaching $52.86. The company’s stock had a trading volume of 375,644 shares. The stock’s market cap is $6.09 billion. The stock has a 50 day moving average of $47.96 and a 200-day moving average of $44.84. PTC has a one year low of $27.06 and a one year high of $52.96.
PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, January 18th. The company reported $0.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. The business had revenue of $286 million for the quarter, compared to analysts’ expectations of $287.11 million. PTC had a positive return on equity of 7.04% and a negative net margin of 3.50%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. On average, equities research analysts expect that PTC will post $1.26 EPS for the current fiscal year.
In related news, insider James E. Heppelmann sold 25,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $46.46, for a total value of $1,161,500.00. Following the transaction, the insider now owns 561,006 shares of the company’s stock, valued at $26,064,338.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert C. Gremley sold 14,621 shares of the stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $47.45, for a total value of $693,766.45. Following the completion of the transaction, the executive vice president now directly owns 40,018 shares in the company, valued at approximately $1,898,854.10. The disclosure for this sale can be found here. Insiders have sold 92,315 shares of company stock worth $4,442,607 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC raised its position in PTC by 6.9% in the third quarter. TIAA CREF Investment Management LLC now owns 449,849 shares of the company’s stock valued at $19,933,000 after buying an additional 29,037 shares during the period. Ameriprise Financial Inc. raised its position in PTC by 7.8% in the third quarter. Ameriprise Financial Inc. now owns 899,194 shares of the company’s stock valued at $39,853,000 after buying an additional 64,851 shares during the period. Capital Investment Services of America Inc. raised its position in PTC by 19.1% in the third quarter. Capital Investment Services of America Inc. now owns 303,475 shares of the company’s stock valued at $13,447,000 after buying an additional 48,603 shares during the period. Rhumbline Advisers raised its position in PTC by 4.2% in the third quarter. Rhumbline Advisers now owns 196,437 shares of the company’s stock valued at $8,704,000 after buying an additional 7,947 shares during the period. Finally, BlackRock Advisors LLC raised its position in PTC by 32.0% in the third quarter. BlackRock Advisors LLC now owns 1,082,117 shares of the company’s stock valued at $47,948,000 after buying an additional 262,138 shares during the period. 96.27% of the stock is currently owned by hedge funds and other institutional investors.
PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.