According to Zacks, “PTC Inc. develops, markets, and supports software solutions. The company offers enterprise solutions and desktop solutions. Its principal Enterprise Solutions are Windchill, Arbortext, Creo View and Integrity. The Company’s Desktop Solutions include its integrated Creo software suite, its Mathcad engineering calculations software and its Arbortext document authoring tools. It also offers consultation, implementation, training, and maintenance services. PTC Inc., formerly known as Parametric Technology Corporation, is headquartered in Needham, Massachusetts. “
Other research analysts have also issued research reports about the stock. Wedbush reiterated an outperform rating and issued a $43.00 price objective on shares of PTC in a report on Friday, July 15th. Citigroup Inc. assumed coverage on shares of PTC in a report on Monday, August 1st. They issued a buy rating and a $48.00 price objective for the company. Finally, Evercore ISI assumed coverage on shares of PTC in a report on Wednesday, September 14th. They set a buy rating and a $50.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. PTC currently has a consensus rating of Buy and a consensus target price of $41.70.
PTC (NASDAQ:PTC) opened at 44.13 on Tuesday. The firm’s market cap is $5.07 billion. The stock has a 50 day moving average of $42.69 and a 200 day moving average of $37.66. PTC has a 12-month low of $27.06 and a 12-month high of $44.75.
PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by $0.05. PTC had a negative net margin of 1.60% and a positive return on equity of 16.92%. The company earned $289.70 million during the quarter, compared to analyst estimates of $288.77 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities research analysts anticipate that PTC will post $1.38 EPS for the current fiscal year.
In related news, Director Robert Schechter sold 1,248 shares of PTC stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $39.98, for a total value of $49,895.04. Following the completion of the sale, the director now owns 61,171 shares of the company’s stock, valued at approximately $2,445,616.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of PTC stock in a transaction on Monday, August 1st. The shares were sold at an average price of $40.41, for a total transaction of $1,010,250.00. Following the completion of the sale, the insider now directly owns 578,181 shares of the company’s stock, valued at approximately $23,364,294.21. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. increased its stake in PTC by 6.4% in the second quarter. Macquarie Group Ltd. now owns 1,355,918 shares of the company’s stock valued at $50,955,000 after buying an additional 81,080 shares during the last quarter. Mason Street Advisors LLC purchased a new position in PTC during the second quarter worth about $1,964,000. CI Investments Inc. purchased a new position in PTC during the second quarter worth about $673,000. Royal Bank of Canada increased its position in PTC by 0.8% in the second quarter. Royal Bank of Canada now owns 623,874 shares of the company’s stock worth $23,445,000 after buying an additional 4,996 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in PTC by 171.8% in the second quarter. Public Employees Retirement System of Ohio now owns 88,402 shares of the company’s stock worth $3,322,000 after buying an additional 55,874 shares in the last quarter. 95.12% of the stock is owned by institutional investors and hedge funds.
PTC Company Profile
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.
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