Wedbush reiterated their outperform rating on shares of PTC Inc. (NASDAQ:PTC) in a report issued on Thursday morning. They currently have a $59.00 price target on the stock, up from their previous price target of $56.00.
Several other research analysts also recently issued reports on PTC. Brean Capital restated a buy rating and set a $55.00 price objective on shares of PTC in a report on Thursday, October 27th. Barclays PLC restated a buy rating and set a $59.00 price objective on shares of PTC in a report on Wednesday, November 9th. Royal Bank Of Canada upped their target price on shares of PTC from $53.00 to $55.00 and gave the company an outperform rating in a research note on Wednesday, November 9th. Zacks Investment Research raised shares of PTC from a sell rating to a hold rating in a research note on Wednesday, October 5th. Finally, RBC Capital Markets reissued an outperform rating and issued a $55.00 target price (up previously from $53.00) on shares of PTC in a research note on Wednesday, November 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $53.85.
Shares of PTC (NASDAQ:PTC) opened at 52.16 on Thursday. PTC has a 12-month low of $27.06 and a 12-month high of $52.27. The company’s market cap is $6.01 billion. The stock’s 50 day moving average price is $47.96 and its 200-day moving average price is $44.84.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 18th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. PTC had a negative net margin of 3.50% and a positive return on equity of 7.04%. The company had revenue of $286 million for the quarter, compared to the consensus estimate of $287.11 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts forecast that PTC will post $1.26 earnings per share for the current year.
In other news, insider James E. Heppelmann sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $46.46, for a total transaction of $1,161,500.00. Following the transaction, the insider now directly owns 561,006 shares in the company, valued at $26,064,338.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Staats Aaron C. Von sold 13,588 shares of the company’s stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $47.46, for a total transaction of $644,886.48. Following the transaction, the vice president now owns 61,443 shares in the company, valued at $2,916,084.78. The disclosure for this sale can be found here. Insiders have sold 92,315 shares of company stock worth $4,442,607 over the last quarter. 1.02% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in PTC. Tower Research Capital LLC TRC raised its position in shares of PTC by 221.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,044 shares of the company’s stock valued at $114,000 after buying an additional 2,098 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of PTC during the third quarter valued at $114,000. US Bancorp DE raised its position in shares of PTC by 1.8% in the second quarter. US Bancorp DE now owns 3,595 shares of the company’s stock valued at $136,000 after buying an additional 65 shares in the last quarter. Bessemer Group Inc. raised its position in shares of PTC by 99.8% in the second quarter. Bessemer Group Inc. now owns 3,739 shares of the company’s stock valued at $140,000 after buying an additional 1,868 shares in the last quarter. Finally, DIAM Co. Ltd. acquired a new position in shares of PTC during the third quarter valued at $172,000. Institutional investors and hedge funds own 96.27% of the company’s stock.
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.