PTC (PTC) Cut to “Hold” at BidaskClub

PTC (NASDAQ:PTC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other analysts have also issued reports on the stock. Evercore ISI set a $75.00 price target on shares of PTC and gave the stock a “buy” rating in a research note on Thursday, October 26th. Royal Bank Of Canada restated a “buy” rating and issued a $65.00 price target on shares of PTC in a research note on Monday, September 4th. Berenberg Bank started coverage on shares of PTC in a research note on Wednesday, August 23rd. They issued a “buy” rating and a $66.00 price target for the company. Barclays lifted their price target on shares of PTC from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Finally, Robert W. Baird set a $65.00 price target on shares of PTC and gave the stock a “buy” rating in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. PTC presently has a consensus rating of “Buy” and a consensus price target of $65.88.

PTC (NASDAQ:PTC) opened at $61.52 on Thursday. PTC has a 12-month low of $45.72 and a 12-month high of $67.12. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $7,154.48, a price-to-earnings ratio of 104.42 and a beta of 1.33.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, October 25th. The technology company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). PTC had a return on equity of 8.08% and a net margin of 0.54%. The firm had revenue of $306.38 million for the quarter, compared to analyst estimates of $306.59 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. research analysts anticipate that PTC will post 0.81 EPS for the current year.

PTC announced that its board has authorized a stock repurchase plan on Tuesday, September 19th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

In other PTC news, Director Robert Schechter sold 1,128 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $66.88, for a total transaction of $75,440.64. Following the completion of the sale, the director now owns 64,826 shares in the company, valued at $4,335,562.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony Dibona sold 10,929 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $65.25, for a total transaction of $713,117.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,924 shares of company stock valued at $3,627,304. 1.02% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of PTC by 1.8% during the second quarter. Vanguard Group Inc. now owns 9,349,753 shares of the technology company’s stock valued at $515,359,000 after acquiring an additional 161,122 shares during the period. FMR LLC boosted its holdings in shares of PTC by 31.1% during the second quarter. FMR LLC now owns 6,753,178 shares of the technology company’s stock valued at $372,235,000 after acquiring an additional 1,602,999 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of PTC by 7.8% during the third quarter. Epoch Investment Partners Inc. now owns 4,657,693 shares of the technology company’s stock valued at $262,135,000 after acquiring an additional 337,109 shares during the period. OZ Management LP acquired a new position in shares of PTC during the third quarter valued at $187,542,000. Finally, State Street Corp boosted its holdings in shares of PTC by 2.1% during the second quarter. State Street Corp now owns 3,005,066 shares of the technology company’s stock valued at $165,643,000 after acquiring an additional 60,498 shares during the period. Hedge funds and other institutional investors own 97.99% of the company’s stock.

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PTC Company Profile

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

Analyst Recommendations for PTC (NASDAQ:PTC)

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