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 report released on Wednesday.

Several other equities analysts have also recently issued reports on PTC. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and decreased their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Royal Bank of Canada raised their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Piper Sandler boosted 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price target on shares of PTC in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PTC has an average rating of “Moderate Buy” and an average price target of $210.00.

PTC Stock Performance

Shares of PTC stock opened at $189.76 on Wednesday. The firm has a market cap of $22.84 billion, a PE ratio of 61.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC has a 52 week low of $163.30 and a 52 week high of $203.09. The business’s fifty day simple moving average is $190.67 and its 200-day simple moving average is $183.69.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.37% and a return on equity of 14.63%. Equities analysts forecast that PTC will post 4.62 earnings per share for the current year.

Insider Buying and Selling at PTC

In related news, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares in the company, valued at $1,368,600. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,242 shares of company stock worth $3,630,716. 0.32% of the stock is currently owned by insiders.

Institutional Trading of PTC

A number of hedge funds have recently bought and sold shares of the company. Bank Pictet & Cie Europe AG increased its position in shares of PTC by 1.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock worth $722,000 after acquiring an additional 55 shares in the last quarter. Wedmont Private Capital raised its position in PTC by 1.6% in the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock valued at $734,000 after purchasing an additional 64 shares during the period. IFM Investors Pty Ltd boosted its position in shares of PTC by 0.3% in the third quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock worth $4,690,000 after buying an additional 66 shares during the period. Allworth Financial LP grew its stake in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of PTC by 1.1% during the 3rd quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock valued at $1,202,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds 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.