Analysts at Bank of America Corporation began coverage on shares of PTC Inc. (NASDAQ:PTC) in a research note issued on Monday. The brokerage set an “underperform” rating on the technology company’s stock.
Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada restated a “buy” rating and set a $65.00 price objective on shares of PTC in a report on Monday, September 4th. Robert W. Baird reiterated a “buy” rating and issued a $65.00 price target on shares of PTC in a report on Thursday, August 31st. Evercore ISI set a $65.00 price target on shares of PTC and gave the stock a “buy” rating in a report on Monday, August 28th. Berenberg Bank started coverage on shares of PTC in a report on Wednesday, August 23rd. They issued a “buy” rating and a $66.00 price target on the stock. Finally, BidaskClub upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. PTC currently has an average rating of “Buy” and a consensus price target of $65.94.
PTC (PTC) opened at $66.25 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.05. The firm has a market cap of $7,659.00, a PE ratio of 112.29 and a beta of 1.37.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). PTC had a net margin of 0.54% and a return on equity of 8.08%. The company had revenue of $306.38 million for the quarter, compared to analyst estimates of $306.59 million. During the same quarter last year, the company earned $0.20 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. research analysts forecast that PTC will post 0.81 earnings per share for the current fiscal year.
PTC announced that its Board of Directors has approved a share repurchase program on Tuesday, September 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 7.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Paul A. Lacy sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $65.81, for a total transaction of $263,240.00. Following the sale, the director now owns 61,486 shares of the company’s stock, valued at approximately $4,046,393.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Schechter sold 1,128 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.88, for a total transaction of $75,440.64. Following the sale, the director now directly owns 64,826 shares in the company, valued at approximately $4,335,562.88. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC lifted its position in shares of PTC by 1.9% during the 1st quarter. Teachers Advisors LLC now owns 377,156 shares of the technology company’s stock valued at $19,820,000 after buying an additional 7,178 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in shares of PTC by 96.2% during the 1st quarter. Tudor Investment Corp ET AL now owns 9,956 shares of the technology company’s stock valued at $523,000 after buying an additional 4,882 shares in the last quarter. Janus Capital Management LLC lifted its position in shares of PTC by 29.5% during the 1st quarter. Janus Capital Management LLC now owns 192,101 shares of the technology company’s stock valued at $10,095,000 after buying an additional 43,801 shares in the last quarter. Capital One National Association purchased a new position in shares of PTC during the 2nd quarter valued at approximately $291,000. Finally, Capstone Asset Management Co. lifted its position in shares of PTC by 8.0% during the 2nd quarter. Capstone Asset Management Co. now owns 10,159 shares of the technology company’s stock valued at $560,000 after buying an additional 750 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.
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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