PTC (NASDAQ:PTC) Announces Quarterly Earnings Results

PTC (NASDAQ:PTC) released its quarterly earnings results on Wednesday. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12), Zacks reports. PTC had a return on equity of 14.63% and a net margin of 16.37%.

PTC Price Performance

NASDAQ:PTC traded down $1.31 during trading hours on Wednesday, reaching $189.76. 1,293,768 shares of the company were exchanged, compared to its average volume of 869,646. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The firm has a market cap of $22.84 billion, a PE ratio of 61.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19. PTC has a twelve month low of $163.30 and a twelve month high of $203.09. The stock’s 50-day moving average is $190.67 and its 200-day moving average is $183.69.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PTC shares. Robert W. Baird boosted their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $204.00 target price on shares of PTC in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and reduced their target price for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Stifel Nicolaus boosted their price target on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.00.

Insider Activity

In related news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the sale, the director now owns 6,843 shares in the company, valued at $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock worth $3,630,716 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

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.