PTC’s (NASDAQ:PTC) Overweight Rating Reiterated at Barclays PLC

PTC Inc. (NASDAQ:PTC)‘s stock had its “overweight” rating restated by Barclays PLC in a note issued to investors on Saturday, July 22nd. They presently have a $65.00 price objective on the technology company’s stock, down from their previous price objective of $67.00. Barclays PLC’s price target suggests a potential upside of 21.86% from the stock’s previous close.

A number of other analysts also recently commented on the company. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $68.00 price objective on shares of PTC in a research note on Thursday, July 20th. Goldman Sachs Group, Inc. (The) began coverage on PTC in a research note on Monday, July 17th. They issued a “neutral” rating and a $62.00 price objective on the stock. Pacific Crest boosted their target price on PTC from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. Benchmark Co. began coverage on PTC in a research report on Thursday, May 18th. They set a “buy” rating and a $65.00 target price on the stock. Finally, Robert W. Baird began coverage on PTC in a research report on Wednesday, May 10th. They set an “outperform” rating and a $65.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. PTC presently has a consensus rating of “Buy” and a consensus price target of $62.25.

PTC (NASDAQ PTC) opened at 53.34 on Friday. PTC has a 52-week low of $41.14 and a 52-week high of $60.22. The stock’s market cap is $6.17 billion. The firm has a 50-day moving average price of $55.82 and a 200 day moving average price of $54.87.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.28. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The company had revenue of $291.92 million for the quarter, compared to the consensus estimate of $290.55 million. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities analysts anticipate that PTC will post $1.20 earnings per share for the current year.

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In other news, EVP Barry F. Cohen sold 27,374 shares of PTC stock in a transaction on Friday, July 21st. The stock was sold at an average price of $54.67, for a total transaction of $1,496,536.58. Following the transaction, the executive vice president now owns 79,729 shares in the company, valued at $4,358,784.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James E. Heppelmann sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $55.27, for a total value of $1,381,750.00. Following the completion of the transaction, the insider now owns 561,022 shares in the company, valued at approximately $31,007,685.94. The disclosure for this sale can be found here. Insiders have sold 65,329 shares of company stock worth $3,588,097 in the last quarter. 1.11% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of PTC by 10,192.0% in the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock worth $541,450,000 after buying an additional 10,203,410 shares during the period. Vanguard Group Inc. increased its position in shares of PTC by 1.8% in the second quarter. Vanguard Group Inc. now owns 9,349,753 shares of the technology company’s stock worth $515,359,000 after buying an additional 161,122 shares during the period. FMR LLC increased its position in shares of PTC by 31.1% in the second quarter. FMR LLC now owns 6,753,178 shares of the technology company’s stock worth $372,235,000 after buying an additional 1,602,999 shares during the period. Epoch Investment Partners Inc. increased its position in shares of PTC by 4.3% in the second quarter. Epoch Investment Partners Inc. now owns 4,320,584 shares of the technology company’s stock worth $238,151,000 after buying an additional 177,690 shares during the period. Finally, State Street Corp increased its position in shares of PTC by 2.0% in the first quarter. State Street Corp now owns 2,944,568 shares of the technology company’s stock worth $154,737,000 after buying an additional 58,720 shares during the period. Hedge funds and other institutional investors own 96.40% of the company’s stock.

PTC Company Profile

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

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