PTC (NASDAQ:PTC) Shares Down 5.8% on Disappointing Earnings

PTC Inc. (NASDAQ:PTC) traded down 5.8% during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $179.76 and last traded at $178.73. 223,180 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 846,191 shares. The stock had previously closed at $189.76.

The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.63% and a net margin of 16.37%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PTC. Citigroup decreased their price target on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday. Robert W. Baird increased their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. KeyCorp increased their price objective on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

Insider Buying and Selling at PTC

In related news, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction that occurred 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 owns 6,843 shares in the company, valued at $1,368,600. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,242 shares of company stock valued at $3,630,716. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

Several hedge funds have recently modified their holdings of PTC. Creative Planning increased its holdings in shares of PTC by 20.5% in the second quarter. Creative Planning now owns 5,185 shares of the technology company’s stock valued at $942,000 after purchasing an additional 882 shares during the period. Sanctuary Advisors LLC purchased a new position in PTC during the 2nd quarter worth approximately $519,000. Park Avenue Securities LLC acquired a new stake in PTC during the 3rd quarter valued at approximately $276,000. Czech National Bank boosted its holdings in shares of PTC by 7.2% in the 3rd quarter. Czech National Bank now owns 24,472 shares of the technology company’s stock valued at $4,421,000 after acquiring an additional 1,654 shares during the last quarter. Finally, Park Place Capital Corp acquired a new stake in shares of PTC in the third quarter worth $67,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Trading Down 9.6 %

The company’s fifty day moving average is $190.48 and its 200-day moving average is $183.73. The stock has a market cap of $20.65 billion, a PE ratio of 55.18, a PEG ratio of 2.62 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78.

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.