PTC (PTC) Raised to “Buy” at BidaskClub

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

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of PTC to $96.00 in a research note on Friday, October 26th. Stifel Nicolaus assumed coverage on shares of PTC in a research note on Tuesday, December 18th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Cowen set a $105.00 target price on shares of PTC and gave the stock a “buy” rating in a research note on Sunday, October 28th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $99.00.

Shares of NASDAQ PTC opened at $86.41 on Friday. The company has a market capitalization of $10.17 billion, a PE ratio of 96.01, a PEG ratio of 2.50 and a beta of 1.34. PTC has a 52-week low of $65.03 and a 52-week high of $107.44. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.86 and a current ratio of 0.86.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, October 24th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The firm had revenue of $312.52 million for the quarter, compared to the consensus estimate of $322.00 million. PTC had a net margin of 4.19% and a return on equity of 11.97%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, research analysts anticipate that PTC will post 1.05 earnings per share for the current year.

In related news, CFO Andrew Miller sold 46,524 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $85.44, for a total transaction of $3,975,010.56. Following the transaction, the chief financial officer now owns 80,769 shares in the company, valued at $6,900,903.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James E. Heppelmann sold 15,000 shares of the stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $87.97, for a total transaction of $1,319,550.00. Following the completion of the transaction, the insider now owns 718,898 shares in the company, valued at $63,241,457.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,231 shares of company stock worth $12,772,908. 1.19% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Honkamp Krueger Financial Services Inc. bought a new position in PTC in the third quarter worth approximately $116,000. Qube Research & Technologies Ltd bought a new position in PTC in the second quarter worth approximately $134,000. Private Advisor Group LLC bought a new position in PTC in the third quarter worth approximately $202,000. Checchi Capital Advisers LLC bought a new position in PTC in the third quarter worth approximately $221,000. Finally, Harvest Fund Management Co. Ltd raised its position in PTC by 562.7% in the third quarter. Harvest Fund Management Co. Ltd now owns 2,147 shares of the technology company’s stock worth $228,000 after acquiring an additional 1,823 shares during the period. Institutional investors and hedge funds own 91.38% 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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Analyst Recommendations for PTC (NASDAQ:PTC)

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