PTC’s (NASDAQ:PTC) “Overweight” Rating Reaffirmed at Barclays PLC

PTC Inc. (NASDAQ:PTC)‘s stock had its “overweight” rating reaffirmed by investment analysts at Barclays PLC in a report issued on Saturday, July 22nd. They presently have a $65.00 target price on the technology company’s stock, down from their prior target price of $67.00. Barclays PLC’s target price points to a potential upside of 21.45% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Evercore ISI set a $65.00 target price on PTC and gave the company a “buy” rating in a report on Saturday, March 25th. Pacific Crest increased their price objective on PTC from $62.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, June 6th. J P Morgan Chase & Co restated an “overweight” rating and issued a $68.00 price objective on shares of PTC in a report on Thursday, July 20th. Griffin Securities increased their price objective on PTC from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, April 20th. Finally, Benchmark Co. started coverage on PTC in a report on Thursday, May 18th. They issued a “buy” rating and a $65.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. PTC currently has an average rating of “Buy” and a consensus price target of $62.25.

PTC (NASDAQ:PTC) traded up 1.00% on Friday, reaching $53.52. 998,905 shares of the company were exchanged. The stock has a 50-day moving average price of $55.28 and a 200 day moving average price of $54.90. The stock’s market capitalization is $6.19 billion. PTC has a 52 week low of $41.40 and a 52 week high of $60.22.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. The company had revenue of $291.92 million for the quarter, compared to the consensus estimate of $290.55 million. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. Analysts forecast 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 the stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $54.67, for a total value of $1,496,536.58. Following the completion of the sale, the executive vice president now directly owns 79,729 shares of the company’s stock, valued at $4,358,784.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony Dibona sold 2,205 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $55.88, for a total value of $123,215.40. Following the completion of the sale, the executive vice president now directly owns 22,228 shares of the company’s stock, valued at $1,242,100.64. The disclosure for this sale can be found here. Insiders sold 65,329 shares of company stock valued at $3,588,097 over the last three months. 1.11% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PTC. Stephens Inc. AR purchased a new position in shares of PTC during the second quarter valued at approximately $126,000. Toronto Dominion Bank boosted its position in shares of PTC by 10.0% in the first quarter. Toronto Dominion Bank now owns 2,475 shares of the technology company’s stock valued at $130,000 after buying an additional 225 shares during the period. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of PTC during the first quarter valued at approximately $132,000. US Bancorp DE boosted its position in shares of PTC by 56.2% in the second quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock valued at $144,000 after buying an additional 937 shares during the period. Finally, Advisor Group Inc. boosted its position in shares of PTC by 7.4% in the second quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after buying an additional 186 shares during the period. 98.40% of the stock is owned by hedge funds and other institutional investors.

About PTC

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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