PTC (NASDAQ:PTC) Issues Earnings Results

PTC (NASDAQ:PTC) posted its quarterly earnings data on Wednesday. The technology company reported $0.79 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 Trading Down 0.8 %

NASDAQ:PTC traded down $1.55 on Wednesday, reaching $189.52. The company’s stock had a trading volume of 1,082,558 shares, compared to its average volume of 859,785. The firm has a market cap of $22.81 billion, a price-to-earnings ratio of 60.94, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC has a 12-month low of $163.30 and a 12-month high of $203.09. The stock has a 50 day moving average price of $190.67 and a 200 day moving average price of $183.69.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PTC. Piper Sandler raised their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Citigroup reduced their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday. Robert W. Baird boosted their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their price target for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.00.

Insiders Place Their Bets

In other news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the completion of the sale, the chief financial officer now owns 57,134 shares in the company, valued at $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock valued at $3,630,716 over the last 90 days. 0.32% of the stock is 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.