PTC (NASDAQ:PTC) Upgraded to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of PTC (NASDAQ:PTC) from a buy rating to a strong-buy rating in a report released on Thursday morning, BidAskClub reports.

PTC has been the topic of several other research reports. Zacks Investment Research downgraded shares of PTC from a strong-buy rating to a hold rating in a report on Tuesday, April 30th. Bank of America restated an underperform rating and set a $86.00 price objective on shares of PTC in a report on Wednesday, June 12th. Wedbush downgraded shares of PTC from an outperform rating to a neutral rating and cut their price objective for the company from $104.00 to $100.00 in a report on Thursday, April 25th. Evercore ISI restated a buy rating and set a $110.00 price objective on shares of PTC in a report on Monday, March 11th. Finally, Mizuho started coverage on shares of PTC in a report on Thursday, April 11th. They set a buy rating and a $120.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $102.71.

PTC opened at $92.83 on Thursday. PTC has a 52-week low of $76.67 and a 52-week high of $107.44. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $10.68 billion, a P/E ratio of 87.58, a P/E/G ratio of 2.73 and a beta of 1.19. The firm’s 50-day moving average is $87.20.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. PTC had a net margin of 3.06% and a return on equity of 11.68%. The firm had revenue of $315.50 million for the quarter, compared to the consensus estimate of $312.29 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, research analysts expect that PTC will post 1.05 EPS for the current fiscal year.

In related news, insider James E. Heppelmann sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $89.02, for a total value of $1,335,300.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 16,050 shares of company stock worth $1,430,916. 9.91% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PTC. First Manhattan Co. acquired a new stake in shares of PTC during the 1st quarter worth approximately $92,000. Manchester Capital Management LLC acquired a new stake in shares of PTC during the 1st quarter worth approximately $115,000. Pearl River Capital LLC grew its stake in shares of PTC by 201.7% during the 1st quarter. Pearl River Capital LLC now owns 2,112 shares of the technology company’s stock worth $194,000 after purchasing an additional 1,412 shares during the period. Checchi Capital Advisers LLC acquired a new stake in shares of PTC during the 1st quarter worth approximately $225,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of PTC during the 1st quarter worth approximately $240,000. 92.50% 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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