PTC Inc (NASDAQ:PTC) – KeyCorp raised their Q3 2020 earnings per share (EPS) estimates for PTC in a research report issued to clients and investors on Wednesday, January 22nd. KeyCorp analyst J. Celino now expects that the technology company will post earnings per share of $0.41 for the quarter, up from their previous estimate of $0.35. KeyCorp also issued estimates for PTC’s Q4 2020 earnings at $0.52 EPS, Q1 2021 earnings at $0.50 EPS, Q2 2021 earnings at $0.54 EPS, Q4 2021 earnings at $0.61 EPS and FY2021 earnings at $2.23 EPS.
PTC has been the topic of several other reports. Citigroup upped their target price on PTC from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday. Mizuho upped their target price on PTC from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 target price on shares of PTC in a research report on Thursday, January 23rd. ValuEngine raised PTC from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI reissued a “buy” rating and issued a $104.00 target price on shares of PTC in a research report on Sunday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $93.57.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, January 22nd. The technology company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.13. PTC had a return on equity of 13.16% and a net margin of 3.38%. The firm had revenue of $356.10 million for the quarter, compared to the consensus estimate of $342.74 million. During the same period in the prior year, the firm earned $0.57 EPS. The firm’s revenue was up 6.4% on a year-over-year basis.
In other news, EVP Kathleen Mitford sold 613 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $73.39, for a total transaction of $44,988.07. Following the sale, the executive vice president now directly owns 20,932 shares of the company’s stock, valued at approximately $1,536,199.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James E. Heppelmann sold 25,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $74.65, for a total transaction of $1,866,250.00. Over the last ninety days, insiders sold 26,203 shares of company stock worth $1,958,626. 10.13% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of PTC by 270.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 515 shares of the technology company’s stock worth $39,000 after acquiring an additional 376 shares in the last quarter. HM Payson & Co. purchased a new stake in shares of PTC during the 2nd quarter worth about $45,000. Point72 Asset Management L.P. purchased a new stake in shares of PTC during the 3rd quarter worth about $109,000. Cerebellum GP LLC purchased a new stake in shares of PTC during the 3rd quarter worth about $128,000. Finally, Tower Research Capital LLC TRC lifted its stake in PTC by 39.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,087 shares of the technology company’s stock valued at $211,000 after buying an additional 878 shares in the last quarter. 86.31% of the stock is currently owned by institutional investors and hedge funds.
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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