PTC Inc. (NASDAQ:PTC) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of below $0.36 for the period, compared to the Thomson Reuters consensus estimate of $0.40. The company issued revenue guidance of below $305 million, compared to the consensus revenue estimate of $307.85 million.
PTC Inc. (NASDAQ:PTC) opened at 45.44 on Wednesday. PTC Inc. has a 12-month low of $27.06 and a 12-month high of $46.80. The stock’s market capitalization is $5.22 billion. The firm’s 50-day moving average is $43.28 and its 200 day moving average is $38.38.
PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 business earned $289.70 million during the quarter, compared to analyst estimates of $288.77 million. During the same period in the previous year, the company posted $0.53 earnings per share. PTC’s revenue was down 4.8% compared to the same quarter last year. Equities research analysts anticipate that PTC Inc. will post $1.38 earnings per share for the current year.
PTC has been the subject of a number of analyst reports. Zacks Investment Research raised shares of PTC from a sell rating to a hold rating in a research note on Thursday, September 29th. Citigroup Inc. initiated coverage on shares of PTC in a research note on Monday, August 1st. They set a buy rating and a $48.00 price objective for the company. Wedbush reaffirmed an outperform rating and set a $43.00 price objective on shares of PTC in a research note on Friday, July 15th. Finally, Evercore ISI initiated coverage on shares of PTC in a research note on Wednesday, September 14th. They set a buy rating and a $50.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $41.70.
In other PTC news, insider James E. Heppelmann sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was 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 owns 578,181 shares of the company’s stock, valued at $23,364,294.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Schechter sold 1,136 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $45.02, for a total value of $51,142.72. Following the sale, the director now directly owns 60,035 shares of the company’s stock, valued at approximately $2,702,775.70. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. FIL Ltd bought a new stake in shares of PTC during the second quarter worth about $9,490,000. State of Wisconsin Investment Board bought a new stake in shares of PTC during the second quarter worth about $384,000. American International Group Inc. boosted its stake in shares of PTC by 0.4% in the second quarter. American International Group Inc. now owns 221,602 shares of the company’s stock worth $8,328,000 after buying an additional 839 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of PTC during the second quarter worth about $534,000. Finally, Franklin Resources Inc. bought a new stake in shares of PTC during the second quarter worth about $1,605,000. 95.12% of the stock is owned by hedge funds and other institutional investors.
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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