$313.01 Million in Sales Expected for PTC Inc (PTC) This Quarter

Analysts expect that PTC Inc (NASDAQ:PTC) will announce $313.01 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for PTC’s earnings. The highest sales estimate is $314.80 million and the lowest is $311.33 million. PTC reported sales of $291.29 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The company is expected to report its next earnings results on Wednesday, July 18th.

According to Zacks, analysts expect that PTC will report full-year sales of $1.25 billion for the current fiscal year, with estimates ranging from $1.24 billion to $1.26 billion. For the next year, analysts anticipate that the company will post sales of $1.37 billion per share, with estimates ranging from $1.35 billion to $1.40 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover PTC.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, April 18th. The technology company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. The company had revenue of $307.88 million for the quarter, compared to analyst estimates of $302.90 million. PTC had a return on equity of 10.04% and a net margin of 3.16%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share.

A number of brokerages have recently weighed in on PTC. Barclays increased their target price on PTC from $88.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 13th. KeyCorp increased their target price on PTC from $94.00 to $106.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI reiterated a “buy” rating and set a $95.00 target price on shares of PTC in a research note on Monday, June 11th. Wedbush increased their target price on PTC from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note on Friday, June 8th. Finally, BidaskClub raised PTC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 31st. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $85.71.

Shares of NASDAQ PTC opened at $94.89 on Monday. The company has a market cap of $10.95 billion, a PE ratio of 128.23, a PEG ratio of 2.98 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 0.94. PTC has a 1-year low of $52.20 and a 1-year high of $95.88.

In other PTC news, EVP Anthony Dibona sold 3,278 shares of the firm’s stock in a transaction on Tuesday, April 24th. The stock was sold at an average price of $84.35, for a total value of $276,499.30. Following the sale, the executive vice president now owns 33,181 shares of the company’s stock, valued at approximately $2,798,817.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Matthew Lessner Cohen sold 17,000 shares of the firm’s stock in a transaction on Wednesday, May 2nd. The shares were sold at an average price of $84.00, for a total value of $1,428,000.00. Following the completion of the sale, the executive vice president now directly owns 28,371 shares in the company, valued at approximately $2,383,164. The disclosure for this sale can be found here. Insiders have sold 130,778 shares of company stock worth $10,967,374 in the last three months. 1.19% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Verition Fund Management LLC acquired a new stake in shares of PTC in the 4th quarter valued at $317,000. Allianz Asset Management GmbH boosted its holdings in shares of PTC by 1.1% in the 4th quarter. Allianz Asset Management GmbH now owns 1,476,429 shares of the technology company’s stock valued at $89,723,000 after purchasing an additional 16,149 shares in the last quarter. Swiss National Bank boosted its holdings in shares of PTC by 2.2% in the 4th quarter. Swiss National Bank now owns 197,000 shares of the technology company’s stock valued at $11,972,000 after purchasing an additional 4,200 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of PTC by 120.4% in the 4th quarter. Bank of Montreal Can now owns 16,212 shares of the technology company’s stock valued at $985,000 after purchasing an additional 8,857 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of PTC in the 4th quarter valued at $5,740,000. 98.12% of the stock is currently owned by hedge funds and other institutional investors.

About PTC

PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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