PTC (NASDAQ:PTC) Hits New 52-Week High After Strong Earnings

Key Points

• PTC Inc. achieved a new 52-week high at $218.00 following a strong earnings report, with earnings per share of $1.64 exceeding analysts' estimates by $0.42.
• The company's quarterly revenue of $643.94 million marked a 24.2% year-over-year increase, significantly surpassing the forecasted $582.12 million.
• Analysts responded positively, with Oppenheimer raising the target price from $225.00 to $240.00 and maintaining an "outperform" rating on the stock.

PTC Inc. (NASDAQ:PTC - Get Free Report) shares hit a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $218.00 and last traded at $215.56, with a volume of 2200 shares trading hands. The stock had previously closed at $202.51.

The technology company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.22 by $0.42. The firm had revenue of $643.94 million for the quarter, compared to the consensus estimate of $582.12 million. PTC had a net margin of 20.74% and a return on equity of 17.09%. The business's quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS.

Analyst Upgrades and Downgrades

PTC has been the topic of several recent research reports. KeyCorp lifted their target price on shares of PTC from $192.00 to $245.00 and gave the company an "overweight" rating in a research report on Thursday. Cantor Fitzgerald set a $120.00 target price on shares of PTC and gave the company an "overweight" rating in a research report on Tuesday. Wall Street Zen lowered shares of PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Wells Fargo & Company reiterated an "overweight" rating on shares of PTC in a research report on Tuesday. Finally, Stifel Nicolaus lifted their target price on shares of PTC from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $202.14.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president owned 17,731 shares of the company's stock, valued at $2,836,960. This trade represents a 10.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PTC. T. Rowe Price Investment Management Inc. grew its position in shares of PTC by 17.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock valued at $3,147,478,000 after acquiring an additional 3,048,311 shares during the period. Nuveen LLC acquired a new stake in shares of PTC during the 1st quarter worth about $241,789,000. Pictet Asset Management Holding SA lifted its stake in shares of PTC by 41.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock worth $445,687,000 after buying an additional 844,418 shares during the last quarter. CCLA Investment Management acquired a new stake in shares of PTC during the 2nd quarter worth about $94,629,000. Finally, GAMMA Investing LLC lifted its stake in shares of PTC by 13,184.0% during the 1st quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock worth $53,517,000 after buying an additional 342,784 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

PTC Trading Down 1.3%

The business's 50 day moving average price is $181.28 and its 200-day moving average price is $169.88. The company has a current ratio of 1.17, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The company has a market cap of $25.44 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 2.92 and a beta of 1.17.

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.