Barclays Reaffirms “Buy” Rating for PTC (NASDAQ:PTC)

Barclays reissued their buy rating on shares of PTC (NASDAQ:PTC) in a research note published on Wednesday morning, AnalystRatings.com reports. Barclays currently has a $91.00 price target on the technology company’s stock.

A number of other analysts have also weighed in on PTC. Rosenblatt Securities restated a buy rating and issued a $83.00 target price on shares of PTC in a research note on Tuesday, November 26th. Evercore ISI restated a buy rating and issued a $104.00 target price on shares of PTC in a research note on Sunday, November 24th. Zacks Investment Research upgraded PTC from a sell rating to a hold rating in a research note on Tuesday, December 17th. BidaskClub upgraded PTC from a hold rating to a buy rating in a research note on Saturday, January 18th. Finally, Mizuho restated a buy rating and issued a $80.00 target price on shares of PTC in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $93.57.

Shares of NASDAQ PTC opened at $86.05 on Wednesday. The stock has a market cap of $9.83 billion, a PE ratio of 220.65 and a beta of 1.14. The business has a fifty day moving average of $76.49 and a two-hundred day moving average of $72.36. PTC has a 52-week low of $62.05 and a 52-week high of $102.47. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.23 and a current ratio of 1.23.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, January 22nd. The technology company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.13. PTC had a return on equity of 13.16% and a net margin of 3.38%. The company had revenue of $356.10 million during the quarter, compared to analyst estimates of $342.74 million. During the same period last year, the company posted $0.57 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts predict that PTC will post 1.32 earnings per share for the current year.

In related news, CEO James E. Heppelmann sold 25,000 shares of PTC stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $74.65, for a total value of $1,866,250.00. Also, EVP Kathleen Mitford sold 340 shares of PTC stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $76.50, for a total value of $26,010.00. Following the completion of the sale, the executive vice president now owns 20,592 shares of the company’s stock, valued at $1,575,288. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,203 shares of company stock valued at $1,958,626. Corporate insiders own 9.91% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of PTC by 270.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 515 shares of the technology company’s stock worth $39,000 after buying an additional 376 shares during the period. HM Payson & Co. bought a new position in shares of PTC during the 2nd quarter valued at about $45,000. Point72 Asset Management L.P. bought a new position in shares of PTC during the 3rd quarter valued at about $109,000. Cerebellum GP LLC bought a new position in shares of PTC during the 3rd quarter valued at about $128,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of PTC by 39.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,087 shares of the technology company’s stock valued at $211,000 after purchasing an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 86.33% 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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