Griffin Securities Upgrades PTC (NASDAQ:PTC) to Buy

Griffin Securities upgraded shares of PTC (NASDAQ:PTC) from a neutral rating to a buy rating in a report issued on Thursday, Briefing.com Automated Import reports. They currently have $120.00 target price on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. Bank of America started coverage on shares of PTC in a research report on Wednesday, May 27th. They set a buy rating on the stock. Royal Bank of Canada lifted their price objective on shares of PTC from $82.00 to $89.00 and gave the stock a sector perform rating in a research report on Thursday. Needham & Company LLC reiterated a buy rating and set a $100.00 price objective on shares of PTC in a research report on Thursday, July 9th. Stifel Nicolaus upgraded shares of PTC from a hold rating to a buy rating and lifted their price objective for the stock from $85.00 to $100.00 in a research report on Thursday, July 16th. Finally, ValuEngine lowered shares of PTC from a buy rating to a hold rating in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. PTC has a consensus rating of Buy and a consensus target price of $99.18.

PTC stock traded down $0.02 during mid-day trading on Thursday, hitting $85.56. The company’s stock had a trading volume of 994,132 shares, compared to its average volume of 750,677. PTC has a twelve month low of $43.90 and a twelve month high of $89.07. The company has a quick ratio of 1.13, a current ratio of 1.86 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $9.90 billion, a P/E ratio of 114.08, a P/E/G ratio of 1.66 and a beta of 1.20. The stock’s fifty day moving average price is $79.58 and its two-hundred day moving average price is $73.66.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.18. PTC had a net margin of 6.21% and a return on equity of 16.99%. The firm had revenue of $352.00 million for the quarter, compared to analysts’ expectations of $333.22 million. During the same period in the previous year, the company posted $0.36 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts expect that PTC will post 1.59 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in shares of PTC by 25.7% in the 2nd quarter. Signaturefd LLC now owns 577 shares of the technology company’s stock valued at $45,000 after purchasing an additional 118 shares during the last quarter. Gateway Investment Advisers LLC raised its holdings in PTC by 0.3% in the 2nd quarter. Gateway Investment Advisers LLC now owns 43,713 shares of the technology company’s stock worth $3,400,000 after acquiring an additional 148 shares during the period. Citizens Financial Group Inc RI raised its holdings in PTC by 39.1% in the 1st quarter. Citizens Financial Group Inc RI now owns 616 shares of the technology company’s stock worth $37,000 after acquiring an additional 173 shares during the period. Victory Capital Management Inc. raised its holdings in PTC by 1.2% in the 1st quarter. Victory Capital Management Inc. now owns 16,627 shares of the technology company’s stock worth $1,018,000 after acquiring an additional 190 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in PTC by 8.1% in the 1st quarter. D.A. Davidson & CO. now owns 3,288 shares of the technology company’s stock worth $201,000 after acquiring an additional 245 shares during the period. 86.55% of the stock is owned by institutional investors and hedge funds.

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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