Evercore ISI reissued their buy rating on shares of PTC (NASDAQ:PTC) in a research report released on Monday morning. Evercore ISI currently has a $110.00 price target on the technology company’s stock.
“We hosted a discussion with Joe Biron, PTC’s CTO of Faris, VP of IR, as part of 360’ event. Following the event we continue to believe that PTC is very well positioned against its opportunity in the industrial IoT, and continue to see the MSFT partnership (both technical and go-to-market) as an accelerant for PTC in this market. Please see within/below for our full takeaways, including PTC’s decision to partner with Azure, the significant non-technical benefits of this partnership, and the ‘digital transformation triumvirate’ formed by Rockwell Automation. Azure allowed PTC to offload investments in massive scalability.”,” Evercore ISI’s analyst commented.
PTC has been the topic of a number of other research reports. Wedbush dropped their price objective on shares of PTC from $108.00 to $110.00 and set an outperform rating on the stock in a research note on Thursday, January 24th. Zacks Investment Research lowered shares of PTC from a buy rating to a hold rating in a research note on Thursday, February 7th. BidaskClub lowered shares of PTC from a buy rating to a hold rating in a research note on Wednesday, March 6th. TheStreet upgraded shares of PTC from a c+ rating to a b- rating in a research note on Monday, February 25th. Finally, Barclays reiterated a buy rating and set a $104.00 price objective on shares of PTC in a research note on Friday, January 25th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. PTC has an average rating of Buy and an average target price of $102.13.
PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 23rd. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. The company had revenue of $334.96 million for the quarter, compared to analyst estimates of $324.70 million. PTC had a net margin of 4.65% and a return on equity of 12.70%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. Equities research analysts predict that PTC will post 1.09 EPS for the current fiscal year.
In other PTC news, EVP Matthew Lessner Cohen sold 15,000 shares of PTC stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $86.56, for a total value of $1,298,400.00. Following the completion of the transaction, the executive vice president now owns 47,934 shares of the company’s stock, valued at $4,149,167.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James E. Heppelmann sold 85,740 shares of PTC stock in a transaction on Friday, February 1st. The stock was sold at an average price of $84.86, for a total transaction of $7,275,896.40. Following the completion of the transaction, the insider now directly owns 679,391 shares of the company’s stock, valued at approximately $57,653,120.26. The disclosure for this sale can be found here. Insiders have sold 150,952 shares of company stock valued at $13,254,038 in the last three months. Corporate insiders own 9.91% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC bought a new stake in PTC in the third quarter valued at $202,000. Wells Fargo & Company MN lifted its stake in PTC by 13.6% in the third quarter. Wells Fargo & Company MN now owns 231,287 shares of the technology company’s stock valued at $24,561,000 after buying an additional 27,689 shares during the last quarter. American Century Companies Inc. bought a new stake in PTC in the third quarter valued at $67,055,000. Virginia Retirement Systems ET AL bought a new stake in PTC in the third quarter valued at $1,699,000. Finally, Dupont Capital Management Corp lifted its stake in PTC by 12.3% in the third quarter. Dupont Capital Management Corp now owns 12,783 shares of the technology company’s stock valued at $1,357,000 after buying an additional 1,400 shares during the last quarter. 90.28% of the stock is owned by hedge funds and other institutional investors.
PTC Company Profile
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; 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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