PTC (NASDAQ:PTC) Releases Earnings Results, Beats Expectations By $0.06 EPS

PTC (NASDAQ:PTC) announced its quarterly earnings data on Wednesday. The technology company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06, FiscalAI reports. The business had revenue of $673.25 million during the quarter, compared to the consensus estimate of $663.56 million. PTC had a net margin of 41.67% and a return on equity of 25.31%.

PTC Stock Performance

Shares of NASDAQ:PTC traded up $1.12 during trading hours on Wednesday, hitting $195.18. The stock had a trading volume of 2,114,476 shares, compared to its average volume of 1,746,083. The stock’s fifty day simple moving average is $165.40 and its 200 day simple moving average is $147.80. PTC has a 1-year low of $108.50 and a 1-year high of $196.05. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 2.55 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03.

Insider Buying and Selling at PTC

In other news, Director Corinna Lathan sold 1,750 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $195.75, for a total transaction of $342,562.50. Following the completion of the transaction, the director directly owned 6,679 shares in the company, valued at approximately $1,307,414.25. The trade was a 20.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

PTC has been the subject of a number of research reports. Piper Sandler decreased their target price on PTC from $175.00 to $157.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Loop Capital cut PTC from a “buy” rating to a “hold” rating and increased their price target for the stock from $200.00 to $205.00 in a research report on Monday, October 5th. Barclays cut PTC from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $155.00 to $205.00 in a research report on Monday, October 5th. JPMorgan Chase & Co. raised PTC from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $145.00 to $205.00 in a report on Monday, October 5th. Finally, KeyCorp lowered PTC from an “overweight” rating to a “sector weight” rating in a research report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $200.06.

PTC Company Profile

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.