Zacks Investment Research Lowers PTC (NASDAQ:PTC) to Hold

Zacks Investment Research lowered shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “PTC Inc. develops, markets, and supports software solutions. The company offers enterprise solutions and desktop solutions. Its principal Enterprise Solutions are Windchill, Arbortext, Creo View and Integrity. The Company’s Desktop Solutions include its integrated Creo software suite, its Mathcad engineering calculations software and its Arbortext document authoring tools. It also offers consultation, implementation, training, and maintenance services. PTC Inc., formerly known as Parametric Technology Corporation, is headquartered in Needham, Massachusetts. “

A number of other equities analysts also recently issued reports on the company. BidaskClub downgraded Zebra Technologies from a buy rating to a hold rating in a research note on Tuesday, July 16th. TheStreet upgraded Viacom from a c+ rating to a b- rating in a research note on Wednesday, April 24th. Evercore ISI reiterated a hold rating and set a $70.00 price target on shares of Akamai Technologies in a research note on Thursday, June 13th. Wedbush reiterated an outperform rating on shares of Alphabet in a research note on Thursday, April 25th. Finally, Bank of America reiterated an underperform rating and set a $86.00 price target on shares of PTC in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. PTC presently has a consensus rating of Buy and an average price target of $101.08.

Shares of PTC opened at $87.99 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.32. The company has a 50-day moving average price of $88.49. The firm has a market cap of $10.12 billion, a P/E ratio of 97.77, a PEG ratio of 2.60 and a beta of 1.19. PTC has a one year low of $76.67 and a one year high of $107.44.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.03. The company had revenue of $315.50 million during the quarter, compared to the consensus estimate of $312.29 million. PTC had a return on equity of 11.68% and a net margin of 3.06%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.34 EPS. Equities research analysts predict that PTC will post 1.05 earnings per share for the current fiscal year.

In other news, insider James E. Heppelmann sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $89.02, for a total value of $1,335,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 16,050 shares of company stock worth $1,430,916 in the last 90 days. Company insiders own 9.91% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PTC. Arlington Partners LLC bought a new stake in shares of PTC in the 2nd quarter worth approximately $64,000. Machina Capital S.A.S. increased its holdings in shares of PTC by 17,775.0% in the second quarter. Machina Capital S.A.S. now owns 715 shares of the technology company’s stock worth $64,000 after purchasing an additional 711 shares during the period. First Manhattan Co. bought a new position in shares of PTC in the first quarter worth $92,000. Manchester Capital Management LLC bought a new position in shares of PTC in the first quarter worth $115,000. Finally, Pearl River Capital LLC increased its holdings in shares of PTC by 201.7% in the first quarter. Pearl River Capital LLC now owns 2,112 shares of the technology company’s stock worth $194,000 after purchasing an additional 1,412 shares during the period. Hedge funds and other institutional investors own 92.46% 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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