Loop Capital started coverage on shares of PTC (NASDAQ:PTC) in a research note published on Tuesday, Benzinga reports. The brokerage issued a buy rating and a $110.00 price target on the technology company’s stock.
Other equities research analysts have also recently issued research reports about the stock. Bank of America assumed coverage on shares of PTC in a research report on Wednesday, May 27th. They set a buy rating for the company. Stifel Nicolaus raised shares of PTC from a hold rating to a buy rating and increased their price target for the company from $85.00 to $100.00 in a research report on Thursday, July 16th. TheStreet raised shares of PTC from a c rating to a b- rating in a research report on Wednesday, July 29th. Citigroup raised their target price on shares of PTC from $91.00 to $96.00 and gave the stock a neutral rating in a research report on Thursday, July 30th. Finally, Rosenblatt Securities raised their target price on shares of PTC from $95.00 to $105.00 and gave the stock a buy rating in a research report on Thursday, July 30th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $100.31.
Shares of PTC stock traded up $0.84 during trading on Tuesday, reaching $89.16. The company’s stock had a trading volume of 1,617 shares, compared to its average volume of 886,441. PTC has a 52-week low of $43.90 and a 52-week high of $97.67. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 117.76, a PEG ratio of 1.52 and a beta of 1.20. The firm’s 50-day moving average is $87.42 and its two-hundred day moving average is $74.51. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.18. The business had revenue of $352.00 million during the quarter, compared to analysts’ expectations of $333.22 million. PTC had a net margin of 6.21% and a return on equity of 16.99%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 EPS. On average, equities research 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 firm’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 in the company, valued at approximately $53,715,512.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Corinna Lathan sold 1,667 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $87.24, for a total transaction of $145,429.08. Over the last quarter, insiders sold 16,917 shares of company stock valued at $1,460,507. 10.13% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in PTC. Copper Rock Capital Partners LLC purchased a new position in PTC during the second quarter valued at approximately $434,624,000. Victory Capital Management Inc. raised its position in shares of PTC by 5,668.1% during the second quarter. Victory Capital Management Inc. now owns 959,068 shares of the technology company’s stock valued at $74,606,000 after buying an additional 942,441 shares during the last quarter. Nordea Investment Management AB raised its position in shares of PTC by 112.8% during the second quarter. Nordea Investment Management AB now owns 1,481,388 shares of the technology company’s stock valued at $113,400,000 after buying an additional 785,283 shares during the last quarter. Pictet Asset Management Ltd. raised its position in shares of PTC by 23.3% during the first quarter. Pictet Asset Management Ltd. now owns 3,277,124 shares of the technology company’s stock valued at $200,593,000 after buying an additional 618,269 shares during the last quarter. Finally, Praesidium Investment Management Company LLC raised its position in shares of PTC by 18.6% during the first quarter. Praesidium Investment Management Company LLC now owns 2,955,841 shares of the technology company’s stock valued at $180,927,000 after buying an additional 462,569 shares during the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.
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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