PTC’s (PTC) “Buy” Rating Reiterated at KeyCorp

KeyCorp restated their buy rating on shares of PTC Inc. (NASDAQ:PTC) in a report issued on Thursday. The brokerage currently has a $74.00 target price on the technology company’s stock, up from their prior target price of $64.00.

PTC has been the topic of several other reports. Evercore ISI set a $65.00 price objective on shares of PTC and gave the company a buy rating in a research note on Thursday, October 19th. BidaskClub lowered shares of PTC from a hold rating to a sell rating in a research report on Monday, September 18th. Royal Bank Of Canada restated a buy rating and set a $65.00 target price on shares of PTC in a research report on Monday, September 4th. Berenberg Bank began coverage on shares of PTC in a research report on Wednesday, August 23rd. They set a buy rating and a $66.00 target price on the stock. Finally, Barclays PLC restated an overweight rating and set a $65.00 target price (down from $67.00) on shares of PTC in a research report on Saturday, July 22nd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. PTC currently has an average rating of Buy and an average price target of $65.94.

Shares of PTC (PTC) traded up 2.72% during mid-day trading on Thursday, reaching $66.43. 2,452,445 shares of the company were exchanged. PTC has a 12 month low of $43.12 and a 12 month high of $66.52. The stock’s market capitalization is $7.68 billion. The stock has a 50 day moving average price of $58.08 and a 200-day moving average price of $56.05.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $306.38 million during the quarter, compared to analyst estimates of $306.59 million. PTC had a net margin of 0.54% and a return on equity of 8.08%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 earnings per share. Analysts predict that PTC will post $1.37 earnings per share for the current year.

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PTC announced that its board has approved a stock repurchase program on Tuesday, September 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

In related news, VP Staats Aaron C. Von sold 5,750 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $55.26, for a total value of $317,745.00. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $55.27, for a total transaction of $1,381,750.00. Following the completion of the sale, the insider now owns 561,022 shares in the company, valued at $31,007,685.94. The disclosure for this sale can be found here. Insiders sold a total of 39,750 shares of company stock worth $2,231,585 over the last quarter. Insiders own 1.11% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Tributary Capital Management LLC purchased a new stake in shares of PTC in the 3rd quarter worth about $109,000. Stephens Inc. AR purchased a new stake in shares of PTC in the 2nd quarter worth about $126,000. US Bancorp DE boosted its position in shares of PTC by 56.2% in the 2nd quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock worth $144,000 after buying an additional 937 shares in the last quarter. Advisor Group Inc. boosted its position in shares of PTC by 7.4% in the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock worth $150,000 after buying an additional 186 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of PTC by 85.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock worth $165,000 after buying an additional 1,389 shares in the last quarter. Institutional investors and hedge funds own 97.53% 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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