KeyCorp Comments on PTC Inc’s Q2 2019 Earnings (PTC)

PTC Inc (NASDAQ:PTC) – Research analysts at KeyCorp issued their Q2 2019 earnings per share estimates for shares of PTC in a report released on Tuesday, April 9th, Zacks Investment Research reports. KeyCorp analyst J. Celino anticipates that the technology company will post earnings per share of $0.12 for the quarter. KeyCorp currently has a “Overweight” rating and a $111.00 target price on the stock. KeyCorp also issued estimates for PTC’s Q3 2019 earnings at $0.21 EPS, Q4 2019 earnings at $0.28 EPS, FY2019 earnings at $1.00 EPS, Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.39 EPS, Q3 2020 earnings at $0.46 EPS, Q4 2020 earnings at $0.55 EPS, FY2020 earnings at $1.73 EPS and FY2021 earnings at $2.92 EPS.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $315.50 million for the quarter, compared to the consensus estimate of $312.29 million. PTC had a return on equity of 12.67% and a net margin of 3.06%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share.

A number of other equities research analysts also recently commented on the company. Wedbush decreased their target price on PTC from $108.00 to $110.00 and set an “outperform” rating on the stock in a research report on Thursday, January 24th. Mitsubishi UFJ Financial Group decreased their target price on PTC from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, January 24th. Deutsche Bank decreased their target price on PTC from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Barclays reiterated a “buy” rating and issued a $104.00 target price on shares of PTC in a research report on Friday, January 25th. Finally, BidaskClub upgraded PTC from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $103.88.

Shares of NASDAQ:PTC traded up $0.55 during mid-day trading on Friday, reaching $88.42. The stock had a trading volume of 1,014,456 shares, compared to its average volume of 1,227,167. The company has a current ratio of 0.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $10.49 billion, a P/E ratio of 98.24, a P/E/G ratio of 2.73 and a beta of 1.22. PTC has a 1 year low of $76.67 and a 1 year high of $107.44.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Pendal Group Ltd grew its stake in PTC by 3.4% in the fourth quarter. Pendal Group Ltd now owns 5,349 shares of the technology company’s stock worth $443,000 after purchasing an additional 177 shares in the last quarter. M&T Bank Corp boosted its position in PTC by 3.6% during the 4th quarter. M&T Bank Corp now owns 5,110 shares of the technology company’s stock valued at $423,000 after acquiring an additional 179 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its position in shares of PTC by 2.5% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 7,327 shares of the technology company’s stock worth $675,000 after purchasing an additional 180 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of PTC by 7.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,837 shares of the technology company’s stock worth $236,000 after purchasing an additional 195 shares in the last quarter. Finally, MetLife Investment Advisors LLC boosted its position in shares of PTC by 0.3% in the 4th quarter. MetLife Investment Advisors LLC now owns 65,142 shares of the technology company’s stock worth $5,400,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

In other news, EVP Kathleen Mitford sold 815 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $91.47, for a total value of $74,548.05. Following the sale, the executive vice president now directly owns 14,271 shares in the company, valued at $1,305,368.37. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider James E. Heppelmann sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $89.02, for a total value of $1,335,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,487 shares of company stock worth $6,322,997. Company insiders own 9.91% of the company’s stock.

About PTC

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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Earnings History and Estimates for PTC (NASDAQ:PTC)

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