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

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

PTC has been the subject of a number of other reports. Oppenheimer raised their target price on PTC from $190.00 to $210.00 and gave the company an outperform rating in a report on Thursday, February 1st. BMO Capital Markets raised their target price on PTC from $195.00 to $200.00 and gave the company an outperform rating in a report on Thursday, February 1st. Robert W. Baird restated an outperform rating and set a $210.00 target price on shares of PTC in a report on Tuesday, April 2nd. Piper Sandler lifted 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. Finally, Royal Bank of Canada reiterated 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 issued a buy rating to the company’s stock. According to data from MarketBeat, PTC currently has an average rating of Moderate Buy and an average price target of $196.73.

PTC Stock Down 1.2 %

Shares of NASDAQ:PTC opened at $180.06 on Wednesday. The business has a 50-day moving average price of $183.75 and a 200 day moving average price of $167.56. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $21.53 billion, a price-to-earnings ratio of 91.40, a PEG ratio of 3.25 and a beta of 1.17. PTC has a 12-month low of $120.62 and a 12-month high of $194.24.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. PTC had a return on equity of 12.87% and a net margin of 10.86%. The firm had revenue of $550.21 million during the quarter, compared to the consensus estimate of $538.59 million. Sell-side analysts expect that PTC will post 3.47 EPS for the current year.

Insider Buying and Selling

In related news, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the sale, the insider now owns 13,864 shares in the company, valued at $2,489,835.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares in the company, valued at $171,631,594.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the sale, the insider now owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Insiders sold a total of 36,415 shares of company stock worth $6,457,478 over the last 90 days. 1.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PTC. Itau Unibanco Holding S.A. acquired a new position in PTC during the second quarter worth approximately $25,000. Clear Street Markets LLC increased its position in PTC by 93.5% during the first quarter. Clear Street Markets LLC now owns 207 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares during the period. Legacy Financial Group LLC acquired a new position in PTC during the third quarter worth approximately $28,000. Lindbrook Capital LLC increased its position in PTC by 108.3% during the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after buying an additional 91 shares during the period. Finally, Riverview Trust Co acquired a new position in PTC during the first quarter worth approximately $34,000. 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.