PTC (PTC) Lifted to “Neutral” at Bank of America

Bank of America upgraded shares of PTC (NASDAQ:PTC) from an underperform rating to a neutral rating in a report released on Thursday morning, Marketbeat Ratings reports. Bank of America currently has $60.00 target price on the technology company’s stock.

Several other research firms have also recently weighed in on PTC. Evercore ISI restated a buy rating and set a $85.00 price objective on shares of PTC in a research report on Thursday. Citigroup lifted their target price on shares of PTC to $78.00 and gave the stock a buy rating in a research report on Thursday. Royal Bank of Canada reiterated a buy rating and issued a $74.00 target price on shares of PTC in a research report on Friday, October 27th. Wedbush reiterated an outperform rating and issued a $69.00 target price on shares of PTC in a research report on Tuesday, November 14th. Finally, Robert W. Baird reiterated a buy rating and issued a $68.00 target price on shares of PTC in a research report on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. PTC has a consensus rating of Buy and a consensus target price of $70.81.

PTC (PTC) traded up $1.51 during trading on Thursday, hitting $71.46. 2,175,943 shares of the stock traded hands, compared to its average volume of 916,421. 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 cap of $8,122.96, a PE ratio of 285.84 and a beta of 1.34. PTC has a 12-month low of $49.12 and a 12-month high of $74.88.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 17th. The technology company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $306.44 million for the quarter, compared to analysts’ expectations of $300.17 million. PTC had a net margin of 2.47% and a return on equity of 9.29%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.26 EPS. equities research analysts forecast that PTC will post 0.81 EPS for the current year.

In other PTC news, EVP Anthony Dibona sold 4,920 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $64.58, for a total value of $317,733.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Schechter sold 1,128 shares of the firm’s stock in a transaction 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 completion of 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. In the last quarter, insiders sold 55,924 shares of company stock worth $3,627,304. 1.11% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Advisor Group Inc. grew its holdings in 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 acquiring an additional 186 shares during the last quarter. Prudential Financial Inc. grew its holdings in PTC by 1.3% in the 3rd quarter. Prudential Financial Inc. now owns 73,343 shares of the technology company’s stock worth $4,128,000 after acquiring an additional 910 shares during the last quarter. Citigroup Inc. grew its holdings in PTC by 28.9% in the 2nd quarter. Citigroup Inc. now owns 5,181 shares of the technology company’s stock worth $285,000 after acquiring an additional 1,161 shares during the last quarter. Stifel Financial Corp grew its holdings in PTC by 2.2% in the 3rd quarter. Stifel Financial Corp now owns 55,094 shares of the technology company’s stock worth $3,101,000 after acquiring an additional 1,169 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in PTC by 6.9% in the 3rd quarter. Pacer Advisors Inc. now owns 19,677 shares of the technology company’s stock worth $1,107,000 after acquiring an additional 1,271 shares during the last quarter.

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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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