PTC (NASDAQ:PTC) Earns Buy Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of PTC (NASDAQ:PTC) in a research report report published on Thursday, Benzinga reports. Rosenblatt Securities currently has a $195.00 price target on the technology company’s stock.

A number of other research firms have also commented on PTC. StockNews.com lowered PTC from a buy rating to a hold rating in a research note on Monday, August 5th. Piper Sandler lifted their price target on PTC from $177.00 to $182.00 and gave the company a neutral rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $200.18.

PTC Price Performance

Shares of NASDAQ PTC opened at $180.39 on Thursday. The firm has a market cap of $21.67 billion, a P/E ratio of 73.63, a price-to-earnings-growth ratio of 2.67 and a beta of 1.17. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC has a 1-year low of $134.61 and a 1-year high of $194.24. The business’s 50 day moving average is $174.55 and its 200-day moving average is $177.89.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. PTC had a return on equity of 13.36% and a net margin of 13.32%. The firm had revenue of $518.64 million for the quarter, compared to analyst estimates of $533.04 million. Equities research analysts predict that PTC will post 3.51 earnings per share for the current year.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the transaction, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at $2,363,340. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,000 shares of company stock valued at $1,714,010. 1.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PTC

Hedge funds and other institutional investors have recently modified their holdings of the business. Intech Investment Management LLC boosted its stake in shares of PTC by 180.8% in the 1st quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after buying an additional 17,430 shares during the last quarter. Swedbank AB purchased a new position in PTC in the first quarter valued at approximately $9,849,000. BNP Paribas Financial Markets lifted its stake in PTC by 133.1% in the first quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock valued at $23,205,000 after purchasing an additional 70,131 shares during the last quarter. Norden Group LLC lifted its stake in PTC by 1,600.7% in the first quarter. Norden Group LLC now owns 55,308 shares of the technology company’s stock valued at $10,450,000 after purchasing an additional 52,056 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in PTC by 25.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,820 shares of the technology company’s stock valued at $146,061,000 after purchasing an additional 169,592 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About PTC

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.