PTC (NASDAQ:PTC) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

PTC (NASDAQ:PTC) released its quarterly earnings results on Wednesday. The technology company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.11, reports. The firm had revenue of $626.55 million for the quarter, compared to analysts’ expectations of $620.49 million. PTC had a net margin of 16.37% and a return on equity of 14.99%.

PTC Stock Up 1.5 %

PTC traded up $2.78 on Friday, hitting $192.83. The company had a trading volume of 1,598,923 shares, compared to its average volume of 808,537. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. PTC has a 52-week low of $148.01 and a 52-week high of $199.48. The stock has a fifty day simple moving average of $180.03 and a 200-day simple moving average of $178.31. The firm has a market capitalization of $23.17 billion, a P/E ratio of 62.00, a P/E/G ratio of 2.91 and a beta of 1.17.

Insiders Place Their Bets

In other PTC news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PTC

A number of institutional investors and hedge funds have recently made changes to their positions in PTC. Blue Trust Inc. increased its position in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of PTC during the second quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new stake in shares of PTC during the second quarter valued at approximately $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of PTC during the second quarter valued at approximately $31,000. Institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

PTC has been the topic of several research analyst reports. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and decreased their price target for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Robert W. Baird upped their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler increased their target price on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Royal Bank of Canada upped their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.