PTC (NASDAQ:PTC) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• PTC reported quarterly EPS of $2.03, beating the $1.97 consensus by $0.06; revenue of $673.25 million also topped analysts’ $663.56 million estimate.
• Shares rose 0.6% to $195.18 during Wednesday trading. Analysts’ consensus rating was “Hold,” with an average price target of $200.06.
• Director Corinna Lathan sold 1,750 shares at an average price of $195.75, reducing her stake by 20.76%.

PTC (NASDAQ:PTC - Get Free Report) announced its quarterly earnings results on Wednesday. The technology company reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.06, FiscalAI reports. The firm had revenue of $673.25 million for the quarter, compared to the consensus estimate of $663.56 million. PTC had a net margin of 41.67% and a return on equity of 25.31%.

PTC Trading Up 0.6%

Shares of NASDAQ:PTC traded up $1.12 during trading on Wednesday, reaching $195.18. The stock had a trading volume of 2,114,476 shares, compared to its average volume of 1,746,083. The business has a fifty day moving average price of $165.40 and a 200-day moving average price of $147.80. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.40. PTC has a fifty-two week low of $108.50 and a fifty-two week high of $196.05. The stock has a market cap of $21.18 billion, a P/E ratio of 18.88, a PEG ratio of 2.55 and a beta of 0.93.

Analyst Ratings Changes

PTC has been the subject of several recent research reports. Weiss Ratings raised PTC from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, October 6th. Barclays cut PTC from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $155.00 to $205.00 in a research note on Monday, October 5th. JPMorgan Chase & Co. raised PTC from an "underweight" rating to a "neutral" rating and upped their price objective for the stock from $145.00 to $205.00 in a research report on Monday, October 5th. BMO Capital Markets lowered PTC from an "outperform" rating to a "market perform" rating and increased their target price for the company from $164.00 to $205.00 in a report on Tuesday, October 6th. Finally, Stifel Nicolaus set a $205.00 price objective on PTC in a research note on Monday, October 5th. Two analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, PTC has an average rating of "Hold" and a consensus price target of $200.06.

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 1,750 shares of the firm's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $195.75, for a total value of $342,562.50. Following the transaction, the director owned 6,679 shares of the company's stock, valued at approximately $1,307,414.25. This trade represents a 20.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by corporate insiders.

About PTC

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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