Analysts Set PTC Inc. (PTC) Target Price at $61.31

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.

TRADEMARK VIOLATION NOTICE: “Analysts Set PTC Inc. (PTC) Target Price at $61.31” was first reported by BBNS and is the sole property of of BBNS. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The correct version of this report can be read at https://baseballnewssource.com/markets/ptc-inc-ptc-receives-61-31-consensus-target-price-from-analysts-updated-updated-updated/804408.html.

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.

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.

Receive News & Ratings for PTC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Hitters in Major League Baseball on Record Home Run Pace
Hitters in Major League Baseball on Record Home Run Pace
Atlanta Considering Playing Freddie Freeman at Third
Atlanta Considering Playing Freddie Freeman at Third
Injury to Gleyber Torres Adds to Questions About Yankees
Injury to Gleyber Torres Adds to Questions About Yankees
Game Winning Home Run Completes Nolan Arenado Cycle
Game Winning Home Run Completes Nolan Arenado Cycle
New York Yankees and Masahiro Tanaka Hit Hard Again
New York Yankees and Masahiro Tanaka Hit Hard Again
Victor Martinez Diagnosed with Irregular Heartbeat
Victor Martinez Diagnosed with Irregular Heartbeat


Leave a Reply

 
© 2006-2017 BBNS.