The PTC Inc. (PTC) Hits New 1-Year High on Analyst Upgrade

The PTC Inc. (PTC) Hits New 1-Year High on Analyst Upgrade

Shares of PTC Inc. (NASDAQ:PTC) reached a new 52-week high on Thursday after Barclays PLC raised their price target on the stock to $60.00. The stock traded as high as $50.15 and last traded at $50.23, with a volume of 3,338,720 shares trading hands. The stock had previously closed at $47.38.

PTC has been the subject of several other research reports. Zacks Investment Research raised shares of PTC from a “sell” rating to a “hold” rating in a report on Wednesday, October 5th. Brean Capital started coverage on shares of PTC in a report on Friday, October 7th. They set a “buy” rating for the company. Wedbush boosted their price target on shares of PTC from $52.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, October 27th. KeyCorp reissued a “buy” rating and set a $55.00 price target on shares of PTC in a report on Thursday, November 10th. Finally, Pacific Crest set a $55.00 price target on shares of PTC and gave the company a “buy” rating in a report on Wednesday, November 9th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $52.64.

In other news, insider James E. Heppelmann sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $46.46, for a total value of $1,161,500.00. Following the transaction, the insider now owns 561,006 shares in the company, valued at approximately $26,064,338.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony Dibona sold 11,025 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $48.72, for a total value of $537,138.00. Following the completion of the transaction, the executive vice president now owns 32,884 shares in the company, valued at approximately $1,602,108.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,234 shares of company stock worth $3,037,291. 1.02% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of PTC by 2.6% in the second quarter. Vanguard Group Inc. now owns 8,289,794 shares of the company’s stock worth $311,531,000 after buying an additional 207,521 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of PTC by 9.0% in the second quarter. Principal Financial Group Inc. now owns 420,307 shares of the company’s stock worth $15,795,000 after buying an additional 34,744 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of PTC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 16,024 shares of the company’s stock worth $602,000 after buying an additional 1,939 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of PTC by 3.9% in the second quarter. UBS Asset Management Americas Inc. now owns 86,003 shares of the company’s stock worth $3,232,000 after buying an additional 3,243 shares in the last quarter. Finally, Hellman Jordan Management Co. Inc. MA increased its position in shares of PTC by 15.9% in the second quarter. Hellman Jordan Management Co. Inc. MA now owns 28,961 shares of the company’s stock worth $1,088,000 after buying an additional 3,971 shares in the last quarter. Institutional investors own 96.95% of the company’s stock.

The firm’s 50-day moving average price is $47.57 and its 200 day moving average price is $44.50. The firm’s market cap is $5.80 billion.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, January 18th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.26. PTC had a positive return on equity of 10.56% and a negative net margin of 4.92%. The business had revenue of $286 million for the quarter, compared to analyst estimates of $287.11 million. During the same quarter last year, the firm earned $0.50 EPS. PTC’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts forecast that PTC Inc. will post $1.30 earnings per share for the current fiscal year.

About PTC

PTC Inc develops and delivers technology solutions, which consists of software and services that transform the way the customers create, operate and service their products. The Company has two segments: Software Products and Services. Its Software Products segment includes license and related support revenue (including updates and technical support) for all of its products except training-related products.

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