PTC Inc. (PTC) Rating Increased to Buy at BidaskClub

PTC Inc. (NASDAQ:PTC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Other research analysts also recently issued reports about the company. Robert W. Baird set a $65.00 target price on PTC and gave the stock a “buy” rating in a research note on Friday, October 6th. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 price target on shares of PTC in a report on Monday, September 4th. Evercore ISI set a $65.00 price target on PTC and gave the stock a “buy” rating in a report on Monday, August 28th. Berenberg Bank began coverage on PTC in a report on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price target for the company. Finally, Goldman Sachs Group, Inc. (The) began coverage on PTC in a report on Monday, July 17th. They set a “neutral” rating and a $62.00 price target for the company. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $63.31.

PTC (NASDAQ PTC) opened at 58.98 on Wednesday. The stock’s 50 day moving average price is $56.01 and its 200-day moving average price is $55.27. The firm’s market capitalization is $6.82 billion. PTC has a one year low of $43.10 and a one year high of $60.22.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The company had revenue of $291.92 million during the quarter, compared to the consensus estimate of $290.55 million. During the same period in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts expect that PTC will post $1.20 EPS for the current fiscal year.

PTC declared that its Board of Directors has initiated a stock buyback plan on Tuesday, September 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

ILLEGAL ACTIVITY NOTICE: “PTC Inc. (PTC) Rating Increased to Buy at BidaskClub” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/11/ptc-inc-ptc-rating-increased-to-buy-at-bidaskclub.html.

In other news, EVP Anthony Dibona sold 2,205 shares of PTC stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total value of $123,215.40. Following the transaction, the executive vice president now owns 22,228 shares in the company, valued at approximately $1,242,100.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Barry F. Cohen sold 27,374 shares of PTC stock in a transaction on Friday, July 21st. The shares were sold at an average price of $54.67, for a total value of $1,496,536.58. Following the completion of the transaction, the executive vice president now owns 79,729 shares in the company, valued at approximately $4,358,784.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,329 shares of company stock worth $3,588,097. Corporate insiders own 1.02% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Stephens Inc. AR bought a new position in shares of PTC in the 2nd quarter valued at $126,000. US Bancorp DE increased its stake in shares of PTC by 56.2% in the 2nd quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock valued at $144,000 after purchasing an additional 937 shares during the last quarter. Advisor Group Inc. increased its stake in shares of PTC by 7.4% in the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after purchasing an additional 186 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of PTC by 85.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock valued at $165,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new po

Other research analysts also recently issued reports about the company. Robert W. Baird set a $65.00 target price on PTC and gave the stock a “buy” rating in a research note on Friday, October 6th. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 price target on shares of PTC in a report on Monday, September 4th. Evercore ISI set a $65.00 price target on PTC and gave the stock a “buy” rating in a report on Monday, August 28th. Berenberg Bank began coverage on PTC in a report on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price target for the company. Finally, Goldman Sachs Group, Inc. (The) began coverage on PTC in a report on Monday, July 17th. They set a “neutral” rating and a $62.00 price target for the company. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $63.31.

PTC (NASDAQ PTC) opened at 58.98 on Wednesday. The stock’s 50 day moving average price is $56.01 and its 200-day moving average price is $55.27. The firm’s market capitalization is $6.82 billion. PTC has a one year low of $43.10 and a one year high of $60.22.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 19th. The technology company reported $0.28 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. PTC had a positive return on equity of 6.69% and a negative net margin of 3.46%. The company had revenue of $291.92 million during the quarter, compared to the consensus estimate of $290.55 million. During the same period in the previous year, the company posted $0.26 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts expect that PTC will post $1.20 EPS for the current fiscal year.

PTC declared that its Board of Directors has initiated a stock buyback plan on Tuesday, September 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

ILLEGAL ACTIVITY NOTICE: “PTC Inc. (PTC) Rating Increased to Buy at BidaskClub” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/11/ptc-inc-ptc-rating-increased-to-buy-at-bidaskclub.html.

In other news, EVP Anthony Dibona sold 2,205 shares of PTC stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total value of $123,215.40. Following the transaction, the executive vice president now owns 22,228 shares in the company, valued at approximately $1,242,100.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Barry F. Cohen sold 27,374 shares of PTC stock in a transaction on Friday, July 21st. The shares were sold at an average price of $54.67, for a total value of $1,496,536.58. Following the completion of the transaction, the executive vice president now owns 79,729 shares in the company, valued at approximately $4,358,784.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,329 shares of company stock worth $3,588,097. Corporate insiders own 1.02% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Stephens Inc. AR bought a new position in shares of PTC in the 2nd quarter valued at $126,000. US Bancorp DE increased its stake in shares of PTC by 56.2% in the 2nd quarter. US Bancorp DE now owns 2,604 shares of the technology company’s stock valued at $144,000 after purchasing an additional 937 shares during the last quarter. Advisor Group Inc. increased its stake in shares of PTC by 7.4% in the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after purchasing an additional 186 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of PTC by 85.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,013 shares of the technology company’s stock valued at $165,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Asset Management One Co. Ltd. bought a new position in shares of PTC in the 1st quarter valued at $189,000. Institutional investors own 97.92% of the company’s stock.

PTC Company Profile

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

Analyst Recommendations for PTC (NASDAQ:PTC)

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