Griffin Securities Weighs in on PTC Inc.’s Q2 2023 Earnings (NASDAQ:PTC)

PTC Inc. (NASDAQ:PTC – Get Rating) – Research analysts at Griffin Securities boosted their Q2 2023 earnings per share estimates for shares of PTC in a research note issued on Thursday, April 28th. Griffin Securities analyst J. Vleeschhouwer now forecasts that the technology company will post earnings of $1.17 per share for the quarter, up from their previous estimate of $1.15. Griffin Securities also issued estimates for PTC’s Q4 2023 earnings at $1.32 EPS.

PTC (NASDAQ:PTC – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.27. The business had revenue of $505.23 million for the quarter, compared to the consensus estimate of $482.34 million. PTC had a return on equity of 19.52% and a net margin of 25.54%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS.

Several other analysts have also commented on PTC. Royal Bank of Canada decreased their price target on shares of PTC from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, April 25th. Mizuho raised their price target on PTC from $125.00 to $135.00 in a report on Thursday. Citigroup cut their price objective on shares of PTC from $120.00 to $110.00 in a report on Monday, April 25th. Barclays lowered their target price on shares of PTC from $141.00 to $120.00 in a research note on Thursday. Finally, TheStreet upgraded shares of PTC from a “c+” rating to a “b-” rating in a research note on Wednesday, April 27th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $139.11.

PTC opened at $114.21 on Monday. The firm has a market capitalization of $13.46 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 3.66 and a beta of 1.26. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.29 and a quick ratio of 1.29. The business’s 50-day moving average is $106.06 and its two-hundred day moving average is $114.21. PTC has a 1 year low of $96.55 and a 1 year high of $153.73.

In other news, CEO James E. Heppelmann sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $116.16, for a total transaction of $580,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 3,741 shares of PTC stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $116.27, for a total transaction of $434,966.07. The disclosure for this sale can be found here. Corporate insiders own 10.15% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in PTC by 2.8% in the 4th quarter. BlackRock Inc. now owns 8,719,982 shares of the technology company’s stock valued at $1,056,426,000 after purchasing an additional 238,059 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of PTC by 13.5% in the fourth quarter. Impax Asset Management Group plc now owns 4,569,209 shares of the technology company’s stock valued at $552,193,000 after buying an additional 542,019 shares during the last quarter. Standard Investments LLC boosted its holdings in PTC by 36.8% in the 4th quarter. Standard Investments LLC now owns 4,368,000 shares of the technology company’s stock valued at $529,183,000 after purchasing an additional 1,175,464 shares during the last quarter. State Street Corp grew its stake in shares of PTC by 4.2% in the 4th quarter. State Street Corp now owns 4,254,045 shares of the technology company’s stock valued at $515,378,000 after buying an additional 170,463 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of PTC by 365.7% during the 4th quarter. Alliancebernstein L.P. now owns 3,221,866 shares of the technology company’s stock valued at $390,329,000 after buying an additional 2,530,102 shares during the period. Hedge funds and other institutional investors own 92.93% of the company’s stock.

PTC Company Profile (Get Rating)

PTC Inc operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers a set of capabilities that enable enterprises to digitally transform every aspect of their business with innovative solutions that are simple to create, easy to implement, scalable to meet future needs, and designed to enable customers to accelerate time to value; and Vuforia, which enables the visualization of digital information in a physical context and the creation of AR.

See Also