PTC (PTC) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a report issued on Thursday.

According to Zacks, “PTC Inc. develops, markets, and supports software solutions. The company offers enterprise solutions and desktop solutions. Its principal Enterprise Solutions are Windchill, Arbortext, Creo View and Integrity. The Company’s Desktop Solutions include its integrated Creo software suite, its Mathcad engineering calculations software and its Arbortext document authoring tools. It also offers consultation, implementation, training, and maintenance services. PTC Inc., formerly known as Parametric Technology Corporation, is headquartered in Needham, Massachusetts. “

A number of other research analysts also recently issued reports on the company. Barclays reissued a buy rating and issued a $104.00 price target on shares of PTC in a report on Friday, January 25th. Wedbush cut their price objective on PTC from $108.00 to $110.00 and set an outperform rating for the company in a research report on Thursday, January 24th. Mitsubishi UFJ Financial Group cut their price objective on PTC from $80.00 to $78.00 and set a neutral rating for the company in a research report on Thursday, January 24th. BidaskClub cut PTC from a buy rating to a hold rating in a research report on Thursday, January 24th. Finally, Guggenheim set a $100.00 price objective on PTC and gave the company a buy rating in a research report on Tuesday, January 22nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. PTC has a consensus rating of Buy and a consensus target price of $101.19.

Shares of NASDAQ:PTC opened at $87.26 on Thursday. PTC has a 12-month low of $65.48 and a 12-month high of $107.44. The company has a market capitalization of $10.35 billion, a price-to-earnings ratio of 96.96, a P/E/G ratio of 2.28 and a beta of 1.26. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.48 and a quick ratio of 1.48.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, January 23rd. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.15. PTC had a return on equity of 12.70% and a net margin of 4.65%. The company had revenue of $334.96 million during the quarter, compared to the consensus estimate of $324.70 million. During the same period in the previous year, the company posted $0.31 earnings per share. PTC’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts anticipate that PTC will post 1.09 EPS for the current year.

In related news, EVP Matthew Lessner Cohen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $86.56, for a total transaction of $1,298,400.00. Following the completion of the sale, the executive vice president now directly owns 47,934 shares in the company, valued at $4,149,167.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Heppelmann sold 85,740 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $84.86, for a total value of $7,275,896.40. Following the sale, the insider now owns 679,391 shares of the company’s stock, valued at $57,653,120.26. The disclosure for this sale can be found here. Insiders sold 248,971 shares of company stock valued at $21,346,056 over the last 90 days. Company insiders own 9.91% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its holdings in PTC by 8,190.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,497,800 shares of the technology company’s stock valued at $42,000 after buying an additional 3,455,607 shares in the last quarter. Pearl River Capital LLC purchased a new stake in PTC in the 4th quarter valued at $58,000. Mondrian Capital Management LLC purchased a new stake in PTC in the 4th quarter valued at $83,000. Penserra Capital Management LLC grew its holdings in PTC by 189.4% in the 4th quarter. Penserra Capital Management LLC now owns 1,366 shares of the technology company’s stock valued at $112,000 after buying an additional 894 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. purchased a new stake in PTC in the 3rd quarter valued at $116,000. Hedge funds and other institutional investors own 94.49% of the company’s stock.

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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