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

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

Several other analysts also recently weighed in on PTC. BMO Capital Markets lifted their price target on shares of PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Mizuho increased their price target on PTC from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Piper Sandler lifted their price objective on PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Oppenheimer increased their target price on shares of PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $202.00 price target on shares of PTC in a report on Thursday, February 1st. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and an average price target of $196.73.

PTC Trading Up 0.4 %

Shares of NASDAQ PTC opened at $176.37 on Thursday. PTC has a 1-year low of $120.62 and a 1-year high of $194.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 1.19. The business’s 50 day moving average is $183.49 and its two-hundred day moving average is $168.64. The stock has a market capitalization of $21.09 billion, a P/E ratio of 89.53, a PEG ratio of 3.17 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its 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 firm had revenue of $550.21 million for the quarter, compared to the consensus estimate of $538.59 million. As a group, research analysts expect that PTC will post 3.47 EPS for the current year.

Insider Buying and Selling

In other PTC news, insider Catherine Kniker sold 1,330 shares of the 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 completion of the sale, the insider now directly 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 at this link. In related news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction on 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 approximately $171,631,594.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were 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 in the company, 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 in the last 90 days. 1.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PTC

A number of institutional investors and hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in PTC during the 2nd quarter valued at approximately $25,000. Clear Street Markets LLC lifted 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 valued at $27,000 after purchasing an additional 100 shares during the period. Legacy Financial Group LLC purchased a new stake in PTC in the third quarter valued at $28,000. Lindbrook Capital LLC grew its position in PTC by 108.3% during the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after purchasing an additional 91 shares during the period. Finally, Riverview Trust Co purchased a new position in shares of PTC during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.