PTC (PTC) Updates FY 2019 Earnings Guidance
PTC (NASDAQ:PTC) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.35-1.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.73. The company issued revenue guidance of $1.245-1.295 billion, compared to the consensus revenue estimate of $1.34 billion.PTC also updated its Q2 2019 guidance to $0.15-0.27 EPS.
Several research firms recently commented on PTC. JPMorgan Chase & Co. decreased their price target on shares of PTC to $96.00 in a research note on Friday, October 26th. Guggenheim set a $100.00 price target on shares of PTC and gave the company a buy rating in a research note on Tuesday. Cowen set a $105.00 price target on shares of PTC and gave the company a buy rating in a research note on Sunday, October 28th. BidaskClub downgraded shares of PTC from a buy rating to a hold rating in a research note on Friday, October 12th. Finally, Stifel Nicolaus began coverage on shares of PTC in a research note on Tuesday, December 18th. They issued a buy rating and a $105.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $101.38.
PTC traded down $1.17 on Wednesday, hitting $84.64. 2,421,695 shares of the stock were exchanged, compared to its average volume of 1,092,170. PTC has a 12 month low of $65.48 and a 12 month high of $107.44. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 94.04, a P/E/G ratio of 2.56 and a beta of 1.34.
In other news, EVP Barry F. Cohen sold 47,194 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $84.94, for a total value of $4,008,658.36. Following the completion of the transaction, the executive vice president now owns 55,002 shares of the company’s stock, valued at $4,671,869.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Miller sold 46,524 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $85.44, for a total transaction of $3,975,010.56. Following the completion of the transaction, the chief financial officer now directly owns 80,769 shares of the company’s stock, valued at approximately $6,900,903.36. The disclosure for this sale can be found here. Insiders have sold 147,981 shares of company stock valued at $12,750,193 in the last ninety days. 1.19% of the stock is currently owned by company insiders.
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PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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