PTC (NASDAQ:PTC) Stock Price Down 5.8% Following Weak Earnings

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

The technology company reported $0.79 earnings per share (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

PTC has been the subject of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price target on shares of PTC in a report on Tuesday. 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 report on Thursday, November 7th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada upped their price objective on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, KeyCorp lifted their target price on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.09.

Insider Transactions 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 of the company’s stock, valued at approximately $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock worth $3,630,716 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

A number of large investors have recently modified their holdings of the business. Covestor Ltd lifted its holdings in shares of PTC by 70.8% during the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 80 shares during the last quarter. Allworth Financial LP lifted its stake in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of PTC in the 3rd quarter worth about $66,000. Park Place Capital Corp bought a new position in shares of PTC during the 3rd quarter valued at about $67,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of PTC by 83.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after buying an additional 205 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Stock Down 5.9 %

The company has a market cap of $21.49 billion, a P/E ratio of 57.40, a P/E/G ratio of 2.62 and a beta of 1.19. The stock has a 50-day moving average of $190.67 and a two-hundred day moving average of $183.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current 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.