PTC (NASDAQ:PTC) Issues Earnings Results

by · The Cerbat Gem

PTC (NASDAQ:PTC – Get Free Report) posted its earnings results on Wednesday. The technology company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06, FiscalAI reports. The firm had revenue of $673.25 million for the quarter, compared to analysts’ expectations of $663.56 million. PTC had a return on equity of 25.31% and a net margin of 41.67%.

PTC Stock Up 0.6%

NASDAQ PTC traded up $1.12 on Wednesday, reaching $195.18. The company had a trading volume of 2,114,476 shares, compared to its average volume of 1,746,083. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.03 and a current ratio of 1.03. PTC has a 1-year low of $108.50 and a 1-year high of $196.05. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 2.55 and a beta of 0.93. The company’s fifty day moving average is $165.40 and its 200-day moving average is $147.80.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 1,750 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $195.75, for a total transaction of $342,562.50. Following the transaction, the director owned 6,679 shares of the company’s stock, valued at $1,307,414.25. The trade was a 20.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PTC has been the subject of a number of research analyst reports. Piper Sandler cut their price target on shares of PTC from $175.00 to $157.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Robert W. Baird cut PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Mizuho upped their target price on shares of PTC from $160.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 6th. Weiss Ratings upgraded PTC from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Finally, Barclays downgraded shares of PTC from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $155.00 to $205.00 in a research note on Monday, October 5th. Two equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, PTC has a consensus rating of “Hold” and an average price target of $200.06.

View Our Latest Stock Report on PTC

About PTC

(Get Free Report)

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.

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