PTC (NASDAQ:PTC) Coverage Initiated at Rosenblatt Securities

Rosenblatt Securities began coverage on shares of PTC (NASDAQ:PTC) in a report released on Monday, Price Targets.com reports. The firm issued a buy rating and a $157.00 target price on the technology company’s stock.

Several other research analysts also recently weighed in on PTC. Barclays upped their target price on shares of PTC from $145.00 to $161.00 and gave the stock an overweight rating in a report on Friday, April 16th. Royal Bank of Canada increased their price objective on shares of PTC from $145.00 to $165.00 and gave the company an outperform rating in a report on Monday, April 19th. Mizuho increased their price objective on shares of PTC from $150.00 to $165.00 and gave the company a buy rating in a report on Friday, April 16th. TheStreet raised shares of PTC from a c+ rating to a b+ rating in a report on Wednesday, April 28th. Finally, Stifel Nicolaus started coverage on shares of PTC in a report on Tuesday, May 25th. They set a buy rating and a $160.00 price objective for the company. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. PTC presently has a consensus rating of Buy and a consensus price target of $128.63.

NASDAQ:PTC opened at $136.37 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $15.94 billion, a price-to-earnings ratio of 72.54, a price-to-earnings-growth ratio of 2.50 and a beta of 1.21. PTC has a one year low of $72.27 and a one year high of $149.50. The business has a fifty day moving average of $136.67.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, April 28th. The technology company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.38. The company had revenue of $461.79 million during the quarter, compared to the consensus estimate of $416.01 million. PTC had a net margin of 13.52% and a return on equity of 18.64%. PTC’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Research analysts anticipate that PTC will post 2.05 earnings per share for the current year.

In related news, Director Corinna Lathan sold 1,146 shares of the stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $139.12, for a total value of $159,431.52. Also, Director Phillip M. Fernandez sold 250 shares of the stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $147.76, for a total transaction of $36,940.00. Following the completion of the sale, the director now directly owns 21,920 shares in the company, valued at $3,238,899.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,018 shares of company stock valued at $1,023,232. 10.02% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. TD Ameritrade Investment Management LLC purchased a new position in shares of PTC during the fourth quarter worth approximately $26,000. Vantage Consulting Group Inc purchased a new position in shares of PTC during the fourth quarter worth approximately $29,000. Exane Derivatives increased its position in shares of PTC by 12,000.0% during the first quarter. Exane Derivatives now owns 242 shares of the technology company’s stock worth $33,000 after acquiring an additional 240 shares during the period. Archer Investment Corp purchased a new position in shares of PTC during the fourth quarter worth approximately $39,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of PTC by 59.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 295 shares of the technology company’s stock worth $40,000 after acquiring an additional 110 shares during the period. 84.22% of the stock is currently owned by institutional investors.

PTC Company Profile

PTC Inc operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an IIoT platform that enables customers to address digital transformation of their operations, products, and services; ThingWorx Solution Central, a centralized portal in the cloud that allows users of ThingWorx to discover, deploy, and manage ThingWorx applications; and ThingWorx Kepware, which enables users 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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