Brokerages Set PTC Inc (NASDAQ:PTC) PT at $85.54

Shares of PTC Inc (NASDAQ:PTC) have been given a consensus rating of “Hold” by the nineteen ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $85.54.

PTC has been the topic of a number of recent analyst reports. Mizuho reissued a “buy” rating and issued a $80.00 price objective on shares of PTC in a research report on Tuesday, November 26th. Wedbush reduced their price objective on shares of PTC from $90.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Evercore ISI reissued a “buy” rating and issued a $104.00 price objective on shares of PTC in a research report on Sunday, November 24th. BidaskClub raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, Zacks Investment Research raised shares of PTC from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th.

In other news, EVP Kathleen Mitford sold 613 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $73.39, for a total transaction of $44,988.07. Following the transaction, the executive vice president now directly owns 20,932 shares in the company, valued at $1,536,199.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James E. Heppelmann sold 25,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $74.65, for a total transaction of $1,866,250.00. Over the last quarter, insiders have sold 26,553 shares of company stock worth $1,979,228. Insiders own 9.91% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in PTC by 6.0% during the second quarter. BlackRock Inc. now owns 13,287,737 shares of the technology company’s stock valued at $1,192,707,000 after acquiring an additional 751,495 shares during the last quarter. Pictet Asset Management Ltd. lifted its position in PTC by 76.1% during the third quarter. Pictet Asset Management Ltd. now owns 2,202,639 shares of the technology company’s stock valued at $150,176,000 after acquiring an additional 951,754 shares during the last quarter. Marshall Wace North America L.P. lifted its position in PTC by 36.2% during the second quarter. Marshall Wace North America L.P. now owns 1,995,589 shares of the technology company’s stock valued at $179,124,000 after acquiring an additional 530,204 shares during the last quarter. Impax Asset Management Group plc lifted its position in PTC by 11.6% during the second quarter. Impax Asset Management Group plc now owns 1,665,973 shares of the technology company’s stock valued at $149,538,000 after acquiring an additional 173,600 shares during the last quarter. Finally, Invesco Ltd. lifted its position in PTC by 631.4% during the second quarter. Invesco Ltd. now owns 1,500,604 shares of the technology company’s stock valued at $134,694,000 after acquiring an additional 1,295,423 shares during the last quarter. 85.65% of the stock is owned by institutional investors.

Shares of NASDAQ PTC traded down $0.74 during mid-day trading on Wednesday, hitting $75.02. 680,846 shares of the company’s stock traded hands, compared to its average volume of 1,152,192. The company’s 50-day moving average is $71.35 and its two-hundred day moving average is $75.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $8.85 billion, a P/E ratio of 82.44 and a beta of 1.17. PTC has a 1 year low of $62.05 and a 1 year high of $102.47.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.18. PTC had a net margin of 2.33% and a return on equity of 12.23%. The firm had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $333.86 million. During the same period in the prior year, the company earned $0.45 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate that PTC will post 1.36 EPS for the current fiscal year.

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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