PTC Inc. (NASDAQ:PTC) Releases FY17 Earnings Guidance

PTC Inc. (NASDAQ:PTC) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.17-1.22 for the period, compared to the Thomson Reuters consensus estimate of $1.21. The company issued revenue guidance of $1.16-1.17 billion, compared to the consensus revenue estimate of $1.17 billion.PTC also updated its Q4 guidance to $0.33-0.38 EPS.

PTC Inc. (PTC) opened at 54.06 on Monday. The company’s market cap is $6.25 billion. PTC Inc. has a 52 week low of $39.78 and a 52 week high of $60.22. The firm’s 50-day moving average is $56.64 and its 200-day moving average is $54.72.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.28. PTC had a negative net margin of 3.46% and a positive return on equity of 6.69%. The company had revenue of $291.92 million during the quarter, compared to the consensus estimate of $290.55 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts expect that PTC Inc. will post $1.20 EPS for the current fiscal year.

PTC has been the subject of a number of recent analyst reports. Griffin Securities upped their price target on shares of PTC from $55.00 to $65.00 and gave the stock a buy rating in a report on Thursday, April 20th. Evercore ISI reiterated a buy rating and set a $65.00 price objective on shares of PTC in a research report on Thursday, April 20th. Benchmark Co. initiated coverage on shares of PTC in a research report on Thursday, May 18th. They set a buy rating and a $65.00 price objective for the company. Goldman Sachs Group Inc initiated coverage on shares of PTC in a research report on Monday, July 17th. They set a neutral rating and a $62.00 price objective for the company. Finally, Guggenheim reiterated a neutral rating and set a $50.00 price objective on shares of PTC in a research report on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $62.25.

In other PTC news, EVP Barry F. Cohen sold 27,374 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $54.67, for a total value of $1,496,536.58. Following the completion of the transaction, the executive vice president now directly owns 79,729 shares in the company, valued at approximately $4,358,784.43. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Anthony Dibona sold 2,205 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $55.88, for a total transaction of $123,215.40. Following the sale, the executive vice president now owns 22,228 shares of the company’s stock, valued at $1,242,100.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,329 shares of company stock valued at $3,588,097. Corporate insiders own 1.11% of the company’s stock.

About PTC

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.