Shares of PTC Inc. (NASDAQ:PTC) have received a consensus rating of “Buy” from the sixteen research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $62.43.
PTC has been the subject of a number of research reports. Royal Bank Of Canada raised their target price on shares of PTC from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, March 24th. Zacks Investment Research lowered shares of PTC from a “hold” rating to a “sell” rating in a research report on Saturday, April 22nd. Guggenheim reissued a “neutral” rating and issued a $50.00 target price on shares of PTC in a report on Tuesday, April 18th. Evercore ISI reissued a “buy” rating and issued a $65.00 target price on shares of PTC in a report on Thursday, April 20th. Finally, Benchmark Co. assumed coverage on shares of PTC in a report on Thursday, May 18th. They set a “buy” rating and a $65.00 price target on the stock.
PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $280 million during the quarter, compared to analysts’ expectations of $283.81 million. PTC had a negative net margin of 3.12% and a positive return on equity of 7.22%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share.
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In other news, VP Staats Aaron C. Von sold 8,625 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $54.38, for a total value of $469,027.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Schechter sold 1,420 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $52.86, for a total value of $75,061.20. Following the completion of the sale, the director now directly owns 65,954 shares of the company’s stock, valued at approximately $3,486,328.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,353 shares of company stock worth $2,080,765. 1.02% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of PTC by 10,192.0% in the first quarter. BlackRock Inc. now owns 10,303,522 shares of the technology company’s stock valued at $541,450,000 after buying an additional 10,203,410 shares during the last quarter. FMR LLC increased its position in shares of PTC by 115.0% in the first quarter. FMR LLC now owns 5,150,179 shares of the technology company’s stock valued at $270,642,000 after buying an additional 2,755,079 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of PTC during the first quarter valued at $130,787,000. Thornburg Investment Management Inc. bought a new position in shares of PTC during the first quarter valued at $109,170,000. Finally, Conatus Capital Management LP bought a new position in shares of PTC during the third quarter valued at $76,525,000. 96.40% of the stock is 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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