The Vanguard Group, Inc. recently announced the acquisition of new stake in PTC Inc. (NASDAQ:PTC). The institutional investor has increased its shareholding in the Technology company by 0.88% to 9.86 million shares with purchase of 85705.0 shares. This fresh investment now brings its stake to 8.52% valued currently at $766.87 million. In addition, BlackRock Fund Advisors raised its holdings by 1464.0 to 9.18 million shares. And 40 North Management LLC has lifted its position by 39.36% or 1.16 million shares – to 4.09 million shares.
With over 1.23 million PTC Inc. (PTC) shares trading Tuesday and a closing price of $78.41 on the day, the dollar volume was approximately $96.17 million. The shares have shown a positive weekly performance of 2.38% and its price on 07/14/20 gained nearly 0.23%. Currently, there are 115.61M common shares owned by the public and among those 104.01M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 17 analysts who have offered their price forecasts for PTC have a consensus price objective of $88.00. The analysts have set the share’s price value over the next 12 months at a high of $100.00 and a low of $75.00 should the stock experience a downside. Incidentally, analysts’ outlook for the PTC Inc. stock is 2.40 for the next 12 months. The average price target is 10.05% above its last price level and an upside to the estimated low will see the stock lose -4.55% over that period. But an upside of 21.59% will see the stock hit the forecast high price target while mean target price for the stock is $88.00.
Insiders at the company have transacted a total of 77 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 272,354 shares. Insider sales of the common stock occurred on 53 occasions, with total insider shares sold totaling 200,653 shares.
The top 3 mutual fund holders in PTC Inc. are Vanguard Total Stock Market Index, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 2.99 million shares of the company’s stock, all valued at over $232.88 million. The company sold 9795.0 shares recently to bring their total holdings to about 2.59% of the shares outstanding. Vanguard Small Cap Index Fund sold 22011.0 shares to bring its total holdings to over 2.69 million shares at a value of $209.39 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.33% of the shares outstanding.
Shares of PTC Inc. (NASDAQ: PTC) opened at $77.98, down -$0.25 from a prior closing price of $78.23. However, the script later closed the day at $78.41, up 0.23%. The company’s stock has a 5-day price change of 2.38% and 21.57% over the past three months. PTC shares are trading 4.70% year to date (YTD), with the 12-month market performance down to -13.28% lower. It has a 12-month low price of $43.90 and touched a high of $92.47 over the same period. Currently, 1.23 million shares have been traded, compared to an average intraday trading volume of 795.26K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.33%, 4.01%, and 8.55% respectively.
Institutional ownership of PTC Inc. (NASDAQ: PTC) shares accounts for 91.60% of the company’s 115.61M shares outstanding. Mutual fund holders own 40.38%, while other institutional holders and individual stakeholders account for 49.51% and 10.72% respectively.
It has a market capitalization of $9.30B and a beta (3y monthly) value of 1.22. The stock’s trailing 12-month PE ratio is 242.01, while the earnings-per-share (ttm) stands at $0.32. The company has a PEG of 8.19 and a Quick Ratio of 1.10 with the debt-to-equity ratio at 1.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.27% over the week and 3.29% over the month.
Analysts forecast that PTC Inc. (PTC) will achieve an EPS of $0.45 for the current quarter, $0.66 for the next quarter and $2.81 for 2021. The lowest estimate earnings-per-share for the quarter is $0.34 while analysts give the company a high EPS estimate of $0.58. Comparatively, EPS for the current quarter was $0.36 a year ago. Earnings per share for the fiscal year are expected to decrease by -169.60%, and 22.52% over the next financial year. EPS should grow at an annualized rate of 29.56% over the next five years, compared to -16.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 17 brokerage firm advisors rate PTC Inc. (PTC) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 8 of the 17 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the PTC, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on June 05, 2020, with the firm’s price target at $100. BofA/Merrill coverage for the PTC Inc. (PTC) stock in a research note released on May 27, 2020 offered a Buy rating with a price target of $100. Robert W. Baird was of a view on February 19, 2020 that the stock is Outperform, while Barclays gave the stock Overweight rating on November 04, 2019, issuing a price target of $81. Rosenblatt on their part issued Buy rating on August 22, 2019.