PTC (NASDAQ:PTC) Earns “Buy” Rating from Rosenblatt Securities

PTC (NASDAQ:PTC)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $204.00 price objective on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 0.74% from the stock’s current price.

PTC has been the subject of a number of other reports. BMO Capital Markets raised their price objective on shares of PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. restated a “neutral” rating and set a $160.00 price objective (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Stifel Nicolaus reduced their price objective on shares of PTC from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. KeyCorp reaffirmed an “overweight” rating and set a $192.00 price target (up previously from $185.00) on shares of PTC in a report on Monday, July 7th. Finally, Wall Street Zen lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.79.

PTC Stock Down 0.8%

NASDAQ:PTC opened at $202.51 on Tuesday. The firm has a market cap of $24.29 billion, a P/E ratio of 55.63, a P/E/G ratio of 2.78 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. PTC has a fifty-two week low of $133.38 and a fifty-two week high of $213.14. The firm has a 50-day simple moving average of $179.52 and a two-hundred day simple moving average of $169.48.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.42. The business had revenue of $643.94 million during the quarter, compared to analyst estimates of $582.12 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. PTC’s revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. Analysts predict that PTC will post 4.46 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the transaction, the executive vice president owned 17,731 shares of the company’s stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Investment Services of America Inc. boosted its holdings in shares of PTC by 0.6% in the second quarter. Capital Investment Services of America Inc. now owns 190,899 shares of the technology company’s stock worth $32,900,000 after buying an additional 1,061 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in shares of PTC by 3.9% in the second quarter. Tributary Capital Management LLC now owns 8,409 shares of the technology company’s stock worth $1,449,000 after buying an additional 317 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of PTC by 12.5% in the second quarter. Forum Financial Management LP now owns 2,563 shares of the technology company’s stock worth $442,000 after buying an additional 284 shares during the last quarter. Ethic Inc. boosted its holdings in shares of PTC by 24.3% in the second quarter. Ethic Inc. now owns 15,465 shares of the technology company’s stock worth $2,618,000 after buying an additional 3,023 shares during the last quarter. Finally, ARK Investment Management LLC boosted its holdings in shares of PTC by 18.5% in the second quarter. ARK Investment Management LLC now owns 19,024 shares of the technology company’s stock worth $3,279,000 after buying an additional 2,965 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About PTC

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.