PTC (NASDAQ:PTC) Shares Down 5.8% Following Weak Earnings

Shares of PTC Inc. (NASDAQ:PTC) fell 5.8% on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $179.76 and last traded at $178.73. 223,180 shares changed 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.37% and a return on equity of 14.63%.

Analysts Set New Price Targets

PTC has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Robert W. Baird raised their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Citigroup cut their target price on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, KeyCorp upped their price target on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Insiders Place Their Bets

In related news, CFO Kristian Talvitie sold 10,306 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the sale, the chief financial officer now owns 57,134 shares of the company’s stock, valued at $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,242 shares of company stock worth $3,630,716. Company insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

Several hedge funds and other institutional investors have recently made changes to their positions in PTC. Covestor Ltd increased its position in shares of PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 80 shares in the last quarter. Allworth Financial LP boosted its stake in PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of PTC in the 3rd quarter worth $66,000. Park Place Capital Corp bought a new stake in shares of PTC in the 3rd quarter worth $67,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of PTC by 83.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock worth $83,000 after purchasing an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

The business has a fifty day moving average price of $190.67 and a 200-day moving average price of $183.69. The stock has a market capitalization 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 company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

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.