PTC Inc (PTC) is Initiated by Citigroup to Buy, Price Target at $48

PTC Inc (PTC) was Initiated by Citigroup to “Buy” and the brokerage firm has set the Price Target at $48. Citigroup advised their investors in a research report released on Aug 1, 2016.

On the company’s financial health, PTC Inc reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus of $0.31. The company had revenue of $288.65 million for the quarter, compared to analysts expectations of $288.47 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

PTC Inc closed down -0.38 points or -0.95% at $39.73 with 12,30,884 shares getting traded on Friday. Post opening the session at $40.22, the shares hit an intraday low of $39.19 and an intraday high of $40.2232 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jul 25, 2016, Robert Schechter (director) sold 1,248 shares at $39.98 per share price. According to the SEC, on Jun 1, 2016, Barry F Cohen (EVP Strategy) sold 30,000 shares at $35.77 per share price. On May 4, 2016, James E Heppelmann (President and CEO) sold 25,000 shares at $36.53 per share price, according to the Form-4 filing with the securities and exchange commission.

PTC Inc. develops and delivers technology solutions comprised of software and services that transform the way customers create and service their products The Company operates in two Software Products which includes license and related support revenue for all its products except training-related products and Services which includes consulting implementation training and license and support revenue for computer-based training products. The Company’s solutions and software products include Computer-Aided Design (CAD) Product Lifecycle Management (PLM) Application Lifecycle Management (ALM) Supply Chain Management (SCM) and Service Lifecycle Management (SLM). The Company generates revenue through the sale of software licenses support and services.


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