PTC (NASDAQ:PTC) Cut to Buy at BidaskClub

BidaskClub cut shares of PTC (NASDAQ:PTC) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning, BidAskClub reports.

Several other equities research analysts have also recently issued reports on PTC. Stifel Nicolaus cut shares of PTC from a buy rating to a hold rating and cut their price objective for the stock from $105.00 to $84.00 in a research report on Thursday, July 25th. TheStreet lowered shares of PTC from a b- rating to a c rating in a research note on Wednesday, April 24th. ValuEngine lowered shares of PTC from a strong-buy rating to a buy rating in a research note on Monday, April 29th. Griffin Securities lowered shares of PTC from a buy rating to a neutral rating in a research note on Thursday, July 25th. Finally, Deutsche Bank lowered their target price on shares of PTC from $115.00 to $110.00 and set a buy rating for the company in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $94.40.

PTC stock traded down $1.06 during midday trading on Tuesday, hitting $66.75. 67,334 shares of the stock were exchanged, compared to its average volume of 1,500,620. PTC has a fifty-two week low of $66.73 and a fifty-two week high of $107.44. The firm has a market cap of $7.80 billion, a PE ratio of 74.19, a price-to-earnings-growth ratio of 2.05 and a beta of 1.19. The stock’s 50-day moving average price is $86.29. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.79 and a quick ratio of 1.32.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.18. PTC had a net margin of 2.63% and a return on equity of 11.18%. The firm had revenue of $322.40 million during the quarter, compared to analysts’ expectations of $322.42 million. During the same period last year, the business earned $0.36 earnings per share. PTC’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that PTC will post 1.09 EPS for the current fiscal year.

In other news, EVP Staats Aaron C. Von sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $73.33, for a total value of $219,990.00. Following the completion of the transaction, the executive vice president now owns 14,154 shares of the company’s stock, valued at $1,037,912.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Matthew Lessner Cohen sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive vice president now directly owns 25,672 shares of the company’s stock, valued at approximately $2,310,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,950 shares of company stock valued at $1,198,786. 9.91% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of PTC by 9.3% in the first quarter. BlackRock Inc. now owns 12,536,242 shares of the technology company’s stock valued at $1,155,590,000 after purchasing an additional 1,064,149 shares during the period. OZ Management LP boosted its stake in shares of PTC by 23.2% in the first quarter. OZ Management LP now owns 2,586,970 shares of the technology company’s stock valued at $238,467,000 after purchasing an additional 487,739 shares during the period. Lazard Asset Management LLC boosted its stake in shares of PTC by 3.1% in the first quarter. Lazard Asset Management LLC now owns 1,517,070 shares of the technology company’s stock valued at $139,843,000 after purchasing an additional 46,070 shares during the period. Marshall Wace North America L.P. boosted its stake in shares of PTC by 13.9% in the first quarter. Marshall Wace North America L.P. now owns 1,465,385 shares of the technology company’s stock valued at $135,079,000 after purchasing an additional 179,090 shares during the period. Finally, Eagle Asset Management Inc. boosted its stake in shares of PTC by 7.6% in the first quarter. Eagle Asset Management Inc. now owns 1,332,767 shares of the technology company’s stock valued at $122,854,000 after purchasing an additional 94,652 shares during the period. 92.46% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for PTC (NASDAQ:PTC)

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