PTC (NASDAQ:PTC) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a research note issued to investors on Thursday.

PTC has been the subject of a number of other reports. KeyCorp raised their price target on shares of PTC from $190.00 to $205.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Royal Bank of Canada reaffirmed an outperform rating and set a $202.00 target price on shares of PTC in a report on Thursday, February 1st. Rosenblatt Securities reaffirmed a buy rating and set a $195.00 target price on shares of PTC in a report on Friday, April 12th. Oppenheimer lifted their target price on shares of PTC from $190.00 to $210.00 and gave the company an outperform rating in a report on Thursday, February 1st. Finally, Piper Sandler lifted their target price on shares of PTC from $155.00 to $177.00 and gave the company a neutral rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PTC has a consensus rating of Moderate Buy and a consensus target price of $196.73.

PTC Stock Performance

PTC opened at $176.37 on Thursday. PTC has a 12-month low of $120.62 and a 12-month high of $194.24. 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 firm has a market capitalization of $21.09 billion, a PE ratio of 89.53, a P/E/G ratio of 3.14 and a beta of 1.17. The firm has a 50 day moving average of $183.49 and a two-hundred day moving average of $168.86.

PTC (NASDAQ:PTC) last posted its quarterly earnings results 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 net margin of 10.86% and a return on equity of 12.87%. The company had revenue of $550.21 million during the quarter, compared to analyst estimates of $538.59 million. On average, analysts anticipate that PTC will post 3.47 EPS for the current year.

Insider Transactions at PTC

In other news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction on Monday, February 12th. The shares were 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 of the company’s stock, valued at $2,489,835.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Catherine Kniker sold 1,330 shares of the company’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 completion of the sale, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were 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 directly owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. Insiders sold 36,415 shares of company stock valued at $6,457,478 over the last 90 days. 1.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC

Hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of PTC in the second quarter valued at about $25,000. Clear Street Markets LLC lifted its position in PTC by 93.5% in the first quarter. Clear Street Markets LLC now owns 207 shares of the technology company’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Legacy Financial Group LLC acquired a new position in PTC in the third quarter valued at about $28,000. Lindbrook Capital LLC lifted its position in PTC by 108.3% in the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock valued at $31,000 after buying an additional 91 shares during the last quarter. Finally, Riverview Trust Co acquired a new position in PTC in the first quarter valued at about $34,000. 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.