PTC (PTC) Given Buy Rating at Evercore ISI

Evercore ISI reissued their buy rating on shares of PTC (NASDAQ:PTC) in a research report report published on Thursday. Evercore ISI currently has a $85.00 target price on the technology company’s stock.

“We believe this also de-risks the company’s F21 targets (which they maintained again). Recall that the F21 targets do not include the impact of subscription conversions and assume lower than market level growth rates. Given management’s progress and continued execution against their plan as well as the announcement of further perpetual discontinuations (on 1/1/19) we believe the company is positioned to exceed its F21 metrics. We have raised our outlook for F21 accordingly. We remain Outperform rated and are raising our price target to $85 from $75 prior.”,” Evercore ISI’s analyst commented.

A number of other brokerages also recently issued reports on PTC. KeyCorp restated a buy rating and issued a $74.00 price target (up from $64.00) on shares of PTC in a research report on Thursday, October 26th. BidaskClub upgraded PTC from a sell rating to a hold rating in a research report on Saturday, December 30th. Wedbush restated an outperform rating and issued a $69.00 price target on shares of PTC in a research report on Tuesday, November 14th. JPMorgan Chase & Co. downgraded PTC from an overweight rating to a neutral rating and set a $68.00 price target for the company. in a research report on Tuesday, December 12th. Finally, Robert W. Baird restated a buy rating and issued a $68.00 price target on shares of PTC in a research report on Thursday, January 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. PTC has an average rating of Buy and a consensus price target of $70.81.

PTC (NASDAQ:PTC) traded up $1.51 during mid-day trading on Thursday, hitting $71.46. 2,175,943 shares of the company were exchanged, compared to its average volume of 916,421. PTC has a 1 year low of $49.12 and a 1 year high of $74.88. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.98 and a current ratio of 1.10. The stock has a market capitalization of $8,122.96, a price-to-earnings ratio of 285.84 and a beta of 1.34.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, January 17th. The technology company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. PTC had a net margin of 2.47% and a return on equity of 9.29%. The firm had revenue of $306.44 million during the quarter, compared to analyst estimates of $300.17 million. During the same period last year, the firm posted $0.26 earnings per share. PTC’s revenue for the quarter was up 7.0% compared to the same quarter last year. research analysts anticipate that PTC will post 0.81 EPS for the current fiscal year.

In other news, EVP Anthony Dibona sold 10,929 shares of PTC stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $65.25, for a total transaction of $713,117.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Schechter sold 1,128 shares of PTC stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.88, for a total value of $75,440.64. Following the sale, the director now owns 64,826 shares of the company’s stock, valued at $4,335,562.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,924 shares of company stock valued at $3,627,304. Corporate insiders own 1.11% of the company’s stock.

Several institutional investors have recently made changes to their positions in PTC. OZ Management LP purchased a new position in shares of PTC during the third quarter valued at $187,542,000. FMR LLC increased its stake in shares of PTC by 31.1% during the second quarter. FMR LLC now owns 6,753,178 shares of the technology company’s stock valued at $372,235,000 after buying an additional 1,602,999 shares during the period. Newbrook Capital Advisors LP purchased a new position in shares of PTC during the second quarter valued at $88,346,000. TimesSquare Capital Management LLC purchased a new position in shares of PTC during the third quarter valued at $51,958,000. Finally, Impax Asset Management LTD increased its stake in shares of PTC by 147.2% during the third quarter. Impax Asset Management LTD now owns 1,160,283 shares of the technology company’s stock valued at $65,301,000 after buying an additional 691,000 shares during the period.

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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.

Analyst Recommendations for PTC (NASDAQ:PTC)

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