PTC (NASDAQ:PTC) Hits New 12-Month High After Earnings Beat

Shares of PTC Inc. (NASDAQ:PTC) hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $197.21 and last traded at $197.21, with a volume of 16391 shares trading hands. The stock had previously closed at $189.99.

The technology company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.11. The company had revenue of $626.55 million for the quarter, compared to analysts’ expectations of $620.49 million. PTC had a net margin of 13.32% and a return on equity of 13.36%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PTC. Piper Sandler increased their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday. Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Royal Bank of Canada boosted 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. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and lowered their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $204.83.

Insiders Place Their Bets

In related news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total transaction of $685,360.00. Following the sale, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of PTC

Several large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in PTC by 2.6% during the first quarter. Commonwealth Equity Services LLC now owns 3,609 shares of the technology company’s stock valued at $682,000 after purchasing an additional 93 shares during the period. Sequoia Financial Advisors LLC bought a new position in PTC in the 1st quarter valued at about $212,000. Janney Montgomery Scott LLC acquired a new position in PTC during the 1st quarter worth approximately $215,000. Nordea Investment Management AB raised its stake in shares of PTC by 3.6% during the first quarter. Nordea Investment Management AB now owns 9,240 shares of the technology company’s stock valued at $1,748,000 after acquiring an additional 322 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in PTC by 0.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 24,720 shares of the technology company’s stock worth $4,671,000 after purchasing an additional 177 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

PTC Price Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The business has a fifty day simple moving average of $179.76 and a 200-day simple moving average of $178.21. The stock has a market capitalization of $22.83 billion, a P/E ratio of 77.57, a PEG ratio of 2.74 and a beta of 1.17.

About PTC

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.