PTC (NASDAQ:PTC) Trading Down 4.7%

PTC Inc. (NASDAQ:PTC)’s share price dropped 4.7% on Tuesday . The stock traded as low as $107.62 and last traded at $110.48. Approximately 7,411 shares were traded during trading, a decline of 99% from the average daily volume of 802,902 shares. The stock had previously closed at $115.93.

A number of analysts have recently commented on PTC shares. Citigroup dropped their price objective on PTC from $155.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, November 4th. Loop Capital dropped their price objective on PTC from $175.00 to $160.00 and set a “buy” rating on the stock in a research note on Tuesday, November 9th. Rosenblatt Securities boosted their price objective on PTC from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, November 4th. Barclays dropped their price objective on PTC from $161.00 to $149.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 13th. Finally, Mizuho reissued a “buy” rating on shares of PTC in a research note on Sunday, October 31st. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PTC presently has a consensus rating of “Buy” and an average price target of $147.75.

The company has a debt-to-equity ratio of 0.71, a current ratio of 1.74 and a quick ratio of 1.23. The firm has a market cap of $12.91 billion, a PE ratio of 27.43, a P/E/G ratio of 2.88 and a beta of 1.25. The business has a fifty day moving average price of $122.23 and a two-hundred day moving average price of $130.38.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, November 3rd. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.73. PTC had a return on equity of 18.55% and a net margin of 26.39%. The business had revenue of $480.66 million for the quarter, compared to the consensus estimate of $430.30 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. PTC’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, sell-side analysts forecast that PTC Inc. will post 3.03 EPS for the current fiscal year.

In related news, CEO James E. Heppelmann sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 16th. The stock was sold at an average price of $121.91, for a total transaction of $1,828,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Staats Aaron C. Von sold 2,141 shares of the business’s stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $120.24, for a total value of $257,433.84. The disclosure for this sale can be found here. Insiders have sold 29,623 shares of company stock worth $3,585,796 in the last quarter. 10.02% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in PTC by 15.7% during the 2nd quarter. Vanguard Group Inc. now owns 11,725,748 shares of the technology company’s stock worth $1,656,380,000 after acquiring an additional 1,587,384 shares during the last quarter. State Street Corp grew its position in PTC by 23.5% during the 2nd quarter. State Street Corp now owns 4,034,527 shares of the technology company’s stock worth $569,917,000 after acquiring an additional 768,389 shares during the last quarter. Impax Asset Management Group plc grew its position in PTC by 16.4% during the 3rd quarter. Impax Asset Management Group plc now owns 4,027,190 shares of the technology company’s stock worth $481,214,000 after acquiring an additional 568,350 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in PTC by 54.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,632,224 shares of the technology company’s stock worth $513,088,000 after acquiring an additional 1,273,654 shares during the last quarter. Finally, Ownership Capital B.V. grew its position in PTC by 3.3% during the 3rd quarter. Ownership Capital B.V. now owns 3,136,552 shares of the technology company’s stock worth $375,728,000 after acquiring an additional 99,373 shares during the last quarter. 85.22% of the stock is owned by hedge funds and other institutional investors.

About PTC (NASDAQ:PTC)

PTC, Inc engages in the development and provision of software-based product management and development solutions. It operates through the following segments: Software products and Professional Services. The Software Products segment includes license, subscription and related support revenue for its products.

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