PTC (NASDAQ:PTC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a research report released on Friday.

Several other research analysts have also commented on the stock. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. Robert W. Baird boosted their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price target on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Down 2.5 %

Shares of NASDAQ PTC opened at $161.65 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC has a 12-month low of $161.02 and a 12-month high of $203.09. The firm’s 50-day moving average price is $182.89 and its 200-day moving average price is $183.23. The stock has a market capitalization of $19.45 billion, a price-to-earnings ratio of 49.89, a P/E/G ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, equities research analysts anticipate that PTC will post 4.46 EPS for the current fiscal year.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the transaction, the chief financial officer now directly owns 57,134 shares in the company, valued at approximately $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On PTC

Hedge funds have recently made changes to their positions in the stock. Ascent Group LLC raised its stake in shares of PTC by 11.4% during the 4th quarter. Ascent Group LLC now owns 15,295 shares of the technology company’s stock worth $2,812,000 after acquiring an additional 1,560 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of PTC by 11.4% during the 4th quarter. Mackenzie Financial Corp now owns 10,868 shares of the technology company’s stock valued at $1,998,000 after purchasing an additional 1,109 shares during the last quarter. Wormser Freres Gestion boosted its position in shares of PTC by 0.4% in the 4th quarter. Wormser Freres Gestion now owns 48,146 shares of the technology company’s stock worth $8,911,000 after purchasing an additional 168 shares in the last quarter. Toronto Dominion Bank grew its stake in PTC by 8.4% during the 4th quarter. Toronto Dominion Bank now owns 64,257 shares of the technology company’s stock worth $11,815,000 after buying an additional 4,963 shares during the last quarter. Finally, North Star Asset Management Inc. increased its position in PTC by 0.6% during the 4th quarter. North Star Asset Management Inc. now owns 145,274 shares of the technology company’s stock valued at $26,712,000 after buying an additional 859 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Company Profile

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.