PTC (NASDAQ:PTC) Coverage Initiated at Rosenblatt Securities

Rosenblatt Securities started coverage on shares of PTC (NASDAQ:PTC) in a research note published on Monday, Price Targets.com reports. The brokerage issued a buy rating and a $157.00 price target on the technology company’s stock.

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

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

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, April 28th. The technology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.38. The company had revenue of $461.79 million during the quarter, compared to analysts’ expectations of $416.01 million. PTC had a net margin of 13.52% and a return on equity of 18.64%. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. On average, analysts predict that PTC will post 2.05 earnings per share for the current year.

In other PTC news, EVP Michael Ditullio sold 5,372 shares of the business’s stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $147.83, for a total value of $794,142.76. Following the transaction, the executive vice president now directly owns 36,376 shares in the company, valued at approximately $5,377,464.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Phillip M. Fernandez sold 250 shares of the business’s stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $130.87, for a total transaction of $32,717.50. Following the completion of the transaction, the director now owns 22,170 shares in the company, valued at $2,901,387.90. The disclosure for this sale can be found here. Insiders sold a total of 7,018 shares of company stock worth $1,023,232 over the last quarter. 10.02% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. TD Ameritrade Investment Management LLC acquired a new position in shares of PTC in the 4th quarter worth approximately $26,000. Vantage Consulting Group Inc acquired a new position in shares of PTC in the 4th quarter worth approximately $29,000. Exane Derivatives lifted its holdings in shares of PTC by 12,000.0% in the 1st quarter. Exane Derivatives now owns 242 shares of the technology company’s stock worth $33,000 after acquiring an additional 240 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of PTC by 59.5% in the 1st 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 last quarter. Finally, Archer Investment Corp acquired a new position in shares of PTC in the 4th quarter worth approximately $39,000. Institutional investors own 84.22% of the company’s stock.

About PTC

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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