PTC (NASDAQ:PTC) Now Covered by Analysts at Rosenblatt Securities

Rosenblatt Securities initiated coverage on shares of PTC (NASDAQ:PTC) in a report released on Wednesday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $83.00 target price on the technology company’s stock.

A number of other brokerages have also recently issued reports on PTC. TheStreet cut shares of PTC from a b- rating to a c rating in a report on Wednesday, April 24th. Deutsche Bank cut their price target on shares of PTC from $115.00 to $110.00 and set a buy rating on the stock in a research note on Thursday, April 25th. Bank of America reaffirmed an underperform rating and issued a $65.00 price target (down previously from $80.00) on shares of PTC in a research note on Thursday, July 25th. Griffin Securities lowered shares of PTC from a buy rating to a neutral rating in a research note on Thursday, July 25th. Finally, ValuEngine lowered shares of PTC from a strong-buy rating to a buy rating in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $92.13.

Shares of NASDAQ PTC opened at $65.12 on Wednesday. The stock has a market cap of $7.76 billion, a P/E ratio of 65.41, a P/E/G ratio of 2.00 and a beta of 1.15. The firm has a 50 day moving average price of $76.51 and a 200 day moving average price of $86.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.25 and a current ratio of 1.25. PTC has a 52-week low of $62.05 and a 52-week high of $107.44.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.18. The firm had revenue of $322.40 million during the quarter, compared to analysts’ expectations of $322.42 million. PTC had a net margin of 2.63% and a return on equity of 10.44%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. Analysts predict that PTC will post 1.09 earnings per share for the current fiscal year.

In other news, EVP Staats Aaron C. Von sold 3,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 14,154 shares of the company’s stock, valued at $1,037,912.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew Lessner Cohen sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the executive vice president now directly owns 25,672 shares in the company, valued at approximately $2,310,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,543 shares of company stock worth $1,569,785. Insiders own 9.91% of the company’s stock.

Several hedge funds have recently made changes to their positions in PTC. BlackRock Inc. increased its holdings in shares of PTC by 6.0% in the second quarter. BlackRock Inc. now owns 13,287,737 shares of the technology company’s stock valued at $1,192,707,000 after purchasing an additional 751,495 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of PTC by 50.9% in the second quarter. Chartwell Investment Partners LLC now owns 23,322 shares of the technology company’s stock valued at $2,093,000 after purchasing an additional 7,864 shares during the last quarter. Colony Group LLC increased its holdings in shares of PTC by 9.2% in the second quarter. Colony Group LLC now owns 3,203 shares of the technology company’s stock valued at $288,000 after purchasing an additional 270 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of PTC by 42.7% in the second quarter. Royal Bank of Canada now owns 291,772 shares of the technology company’s stock valued at $26,189,000 after purchasing an additional 87,292 shares during the last quarter. Finally, University of Notre Dame DU Lac increased its holdings in shares of PTC by 10.0% in the second quarter. University of Notre Dame DU Lac now owns 99,499 shares of the technology company’s stock valued at $8,931,000 after purchasing an additional 9,044 shares during the last quarter. 90.75% of the stock is currently 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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