PTC (NASDAQ:PTC) Lowered to Hold Rating by StockNews.com

PTC (NASDAQ:PTC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other equities research analysts have also recently weighed in on PTC. Royal Bank of Canada increased their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Citigroup decreased their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. KeyCorp upped their price objective on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Price Performance

Shares of PTC stock opened at $171.10 on Thursday. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 52.81, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.23. The company has a fifty day moving average of $186.70 and a 200-day moving average of $183.39. PTC has a 52-week low of $163.30 and a 52-week high of $203.09.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Equities research analysts expect that PTC will post 4.62 EPS for the current year.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 860 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the sale, the director now directly owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. This represents a 11.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 in the last three months. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of PTC

Institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of PTC by 11.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock worth $3,174,432,000 after acquiring an additional 1,773,653 shares during the period. Vanguard Group Inc. grew its stake in shares of PTC by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock worth $2,627,961,000 after acquiring an additional 240,080 shares during the period. State Street Corp grew its stake in shares of PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after acquiring an additional 133,370 shares during the period. Geode Capital Management LLC grew its stake in shares of PTC by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock worth $555,626,000 after acquiring an additional 67,504 shares during the period. Finally, Fernbridge Capital Management LP grew its stake in shares of PTC by 6.0% in the fourth quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company’s stock worth $278,484,000 after acquiring an additional 85,564 shares during the period. 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.