BidaskClub Downgrades PTC (NASDAQ:PTC) to Buy

PTC (NASDAQ:PTC) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.

PTC has been the topic of several other research reports. Mizuho set a $75.00 price target on Starbucks and gave the company a “buy” rating in a research note on Thursday, April 11th. TheStreet raised Viacom from a “c+” rating to a “b-” rating in a research note on Wednesday, April 24th. KeyCorp boosted their price target on Ingersoll-Rand from $112.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Zacks Investment Research lowered German American Bancorp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $86.00 price target on shares of PTC in a research note on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $102.71.

PTC opened at $89.63 on Tuesday. The company has a market capitalization of $10.30 billion, a PE ratio of 84.43, a PEG ratio of 2.64 and a beta of 1.19. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. PTC has a 1 year low of $76.67 and a 1 year high of $107.44. The company’s 50 day moving average price is $88.34.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $315.50 million for the quarter, compared to analysts’ expectations of $312.29 million. PTC had a return on equity of 11.68% and a net margin of 3.06%. PTC’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. Analysts anticipate that PTC will post 1.05 earnings per share for the current year.

In other PTC news, insider James E. Heppelmann sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $89.02, for a total value of $1,335,300.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders sold 16,050 shares of company stock worth $1,430,916. Insiders own 9.91% of the company’s stock.

A number of institutional investors have recently bought and sold shares of PTC. Norges Bank acquired a new position in PTC in the fourth quarter worth $197,240,000. BlackRock Inc. boosted its stake in PTC by 9.3% in the first quarter. BlackRock Inc. now owns 12,536,242 shares of the technology company’s stock worth $1,155,590,000 after purchasing an additional 1,064,149 shares in the last quarter. OZ Management LP raised its position in shares of PTC by 23.2% during the first quarter. OZ Management LP now owns 2,586,970 shares of the technology company’s stock worth $238,467,000 after acquiring an additional 487,739 shares during the last quarter. Marshall Wace LLP raised its position in shares of PTC by 145.1% during the first quarter. Marshall Wace LLP now owns 652,577 shares of the technology company’s stock worth $60,155,000 after acquiring an additional 386,364 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of PTC by 119.4% during the first quarter. Pictet Asset Management Ltd. now owns 673,918 shares of the technology company’s stock worth $62,122,000 after acquiring an additional 366,736 shares during the last quarter. 92.49% of the stock is currently owned by institutional investors.

PTC Company Profile

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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