Goldman Sachs Group Inc. assumed coverage on shares of PTC Inc. (NASDAQ:PTC) in a research note published on Friday morning. The firm issued a buy rating and a $58.00 target price on the stock.
PTC has been the topic of several other reports. Brean Capital restated a buy rating and issued a $55.00 target price on shares of PTC in a research note on Thursday, October 27th. Zacks Investment Research upgraded PTC from a sell rating to a hold rating in a research note on Wednesday, October 5th. Evercore ISI started coverage on PTC in a research note on Wednesday, September 14th. They issued a buy rating and a $50.00 target price on the stock. Wedbush restated an outperform rating and issued a $52.00 target price (up from $46.00) on shares of PTC in a research note on Wednesday, October 12th. Finally, Citigroup Inc. started coverage on PTC in a research note on Monday, August 1st. They issued a buy rating and a $48.00 target price on the stock. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $48.79.
Shares of PTC (NASDAQ:PTC) traded up 0.43% during mid-day trading on Friday, reaching $46.88. The company had a trading volume of 994,939 shares. The company’s market cap is $5.39 billion. The firm’s 50-day moving average price is $45.20 and its 200 day moving average price is $40.60. PTC has a 52-week low of $27.06 and a 52-week high of $47.64.
PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, October 26th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.10. PTC had a negative net margin of 4.92% and a positive return on equity of 10.56%. The company earned $288.20 million during the quarter, compared to the consensus estimate of $297.91 million. During the same quarter in the prior year, the business earned $0.67 EPS. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. Equities analysts expect that PTC will post $1.33 EPS for the current year.
In other PTC news, insider James E. Heppelmann sold 25,000 shares of PTC stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $46.46, for a total transaction of $1,161,500.00. Following the completion of the sale, the insider now owns 561,006 shares of the company’s stock, valued at $26,064,338.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Matthew Lessner Cohen sold 8,000 shares of PTC stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $42.57, for a total value of $340,560.00. Following the sale, the executive vice president now directly owns 14,607 shares of the company’s stock, valued at approximately $621,819.99. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Citadel Advisors LLC raised its stake in shares of PTC by 582.3% in the second quarter. Citadel Advisors LLC now owns 1,611,643 shares of the company’s stock valued at $60,566,000 after buying an additional 1,375,422 shares during the period. Peregrine Capital Management LLC purchased a new stake in shares of PTC during the third quarter valued at about $35,157,000. Hennessy Advisors Inc. purchased a new stake in shares of PTC during the third quarter valued at about $34,938,000. TD Asset Management Inc. raised its stake in shares of PTC by 4,735.1% in the third quarter. TD Asset Management Inc. now owns 648,922 shares of the company’s stock valued at $28,754,000 after buying an additional 635,501 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of PTC by 66.9% in the second quarter. Marshall Wace LLP now owns 1,456,791 shares of the company’s stock valued at $54,746,000 after buying an additional 584,103 shares during the period. 96.27% of the stock is owned by hedge funds and other institutional investors.
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.