PTC (NASDAQ:PTC) Cut to Hold at StockNews.com

StockNews.com cut shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a report issued on Wednesday morning.

Several other research firms have also recently commented on PTC. Mizuho raised their target price on PTC from $200.00 to $210.00 and gave the stock a buy rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. raised PTC from a neutral rating to an overweight rating and raised their target price for the stock from $130.00 to $200.00 in a research note on Thursday, January 4th. Piper Sandler raised their price objective on PTC from $155.00 to $177.00 and gave the company a neutral rating in a research note on Tuesday, January 9th. BMO Capital Markets raised their price objective on PTC from $195.00 to $200.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reissued an outperform rating and issued a $202.00 price objective on shares of PTC in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PTC presently has an average rating of Moderate Buy and an average target price of $196.73.

PTC Trading Down 1.2 %

Shares of PTC stock opened at $180.06 on Wednesday. The stock has a market cap of $21.53 billion, a price-to-earnings ratio of 91.40, a PEG ratio of 3.25 and a beta of 1.17. The stock has a 50-day moving average of $183.75 and a 200-day moving average of $167.36. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80. PTC has a 1-year low of $120.62 and a 1-year high of $194.24.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. PTC had a return on equity of 12.87% and a net margin of 10.86%. The company had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. On average, equities research analysts forecast that PTC will post 3.47 earnings per share for the current year.

Insider Buying and Selling

In other PTC news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PTC news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now owns 968,357 shares in the company, valued at $171,631,594.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,415 shares of company stock worth $6,457,478. 1.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On PTC

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of PTC by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after purchasing an additional 859,227 shares during the last quarter. State Street Corp boosted its holdings in PTC by 3.6% during the 1st quarter. State Street Corp now owns 4,151,605 shares of the technology company’s stock valued at $532,360,000 after acquiring an additional 142,852 shares during the period. Select Equity Group L.P. boosted its holdings in PTC by 5.7% during the 4th quarter. Select Equity Group L.P. now owns 3,504,626 shares of the technology company’s stock valued at $420,695,000 after acquiring an additional 190,348 shares during the period. Invesco Ltd. boosted its holdings in PTC by 1.6% during the 1st quarter. Invesco Ltd. now owns 2,576,733 shares of the technology company’s stock valued at $277,566,000 after acquiring an additional 41,474 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in PTC by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 2,335,464 shares of the technology company’s stock valued at $298,852,000 after acquiring an additional 68,055 shares during the period. 95.14% of the stock is currently owned by institutional investors.

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.