PTC (NASDAQ:PTC) Releases Earnings Results, Misses Expectations By $0.12 EPS

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

PTC Stock Performance

NASDAQ PTC traded down $1.31 during trading hours on Wednesday, hitting $189.76. 1,293,768 shares of the company’s stock traded hands, compared to its average volume of 869,646. PTC has a 52 week low of $163.30 and a 52 week high of $203.09. The firm has a market capitalization of $22.84 billion, a P/E ratio of 61.02, a P/E/G ratio of 2.62 and a beta of 1.19. 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 business’s fifty day moving average price is $190.67 and its two-hundred day moving average price is $183.69.

Analyst Ratings Changes

Several analysts recently weighed in on PTC shares. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler upped their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.00.

Insider Transactions at PTC

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

PTC Company Profile

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.