PTC (NASDAQ:PTC) Hits New 1-Year High – What’s Next?

PTC Inc. (NASDAQ:PTC) shares reached a new 52-week high on Monday . The stock traded as high as $199.90 and last traded at $199.90, with a volume of 30316 shares traded. The stock had previously closed at $197.64.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Rosenblatt Securities reissued a “buy” rating and set a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Piper Sandler lifted their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their price target on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and dropped their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, PTC has a consensus rating of “Moderate Buy” and an average price target of $204.83.

PTC Price Performance

The stock has a 50-day simple moving average of $185.37 and a 200 day simple moving average of $179.58. The company has a market cap of $23.94 billion, a PE ratio of 64.07, a P/E/G ratio of 2.72 and a beta of 1.17. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

Insider Buying and Selling at PTC

In related news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC

Institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. grew its position in PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. Blue Trust Inc. increased its stake in PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after buying an additional 122 shares during the period. Rothschild Investment LLC purchased a new stake in PTC during the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new position in PTC in the 2nd quarter valued at approximately $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of PTC in the second quarter worth $31,000. 95.14% of the stock is owned by institutional investors and hedge funds.

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.