PTC (PTC) Rating Lowered to Neutral at Wedbush

Wedbush lowered shares of PTC (NASDAQ:PTC) from an outperform rating to a neutral rating in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. The firm currently has $100.00 price target on the technology company’s stock, down from their previous price target of $104.00.

Several other analysts have also issued reports on the company. KeyCorp initiated coverage on PTC in a report on Wednesday, April 10th. They set an overweight rating and a $111.00 price objective for the company. BidaskClub upgraded PTC from a hold rating to a buy rating in a report on Thursday, February 14th. Mitsubishi UFJ Financial Group cut their price objective on PTC from $80.00 to $78.00 and set a neutral rating for the company in a report on Thursday, January 24th. Deutsche Bank initiated coverage on PTC in a report on Wednesday, January 16th. They set a buy rating and a $115.00 price objective for the company. Finally, Zacks Investment Research upgraded PTC from a hold rating to a buy rating and set a $97.00 price objective for the company in a report on Friday, February 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. PTC has an average rating of Buy and a consensus price target of $103.88.

PTC opened at $92.18 on Thursday. The firm has a market capitalization of $10.94 billion, a PE ratio of 102.42, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. PTC has a 12-month low of $76.67 and a 12-month high of $107.44. The company has a quick ratio of 1.48, a current ratio of 0.83 and a debt-to-equity ratio of 0.81.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, April 24th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.03. The company had revenue of $315.50 million during the quarter, compared to analyst estimates of $312.29 million. PTC had a return on equity of 12.67% and a net margin of 3.06%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. Sell-side analysts anticipate that PTC will post 1 EPS for the current fiscal year.

In other news, Director Donald K. Grierson sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $93.31, for a total value of $466,550.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew Miller sold 44,462 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $93.31, for a total value of $4,148,749.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,227 shares of company stock worth $12,263,593. Corporate insiders own 9.91% of the company’s stock.

Several large investors have recently modified their holdings of PTC. Riverview Trust Co acquired a new stake in shares of PTC in the fourth quarter valued at about $31,000. Oregon Public Employees Retirement Fund grew its position in shares of PTC by 8,190.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,497,800 shares of the technology company’s stock valued at $42,000 after purchasing an additional 3,455,607 shares during the last quarter. Pearl River Capital LLC acquired a new stake in shares of PTC in the fourth quarter valued at about $58,000. Mondrian Capital Management LLC acquired a new stake in shares of PTC in the fourth quarter valued at about $83,000. Finally, First Manhattan Co. acquired a new stake in shares of PTC in the first quarter valued at about $92,000. 91.78% of the stock is currently owned by institutional investors.

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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