PTC (NASDAQ:PTC) Downgraded by StockNews.com

PTC (NASDAQ:PTC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other analysts have also commented on PTC. Mizuho raised their price target on shares of PTC from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Piper Sandler raised their price target on shares of PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. BMO Capital Markets raised their price target on shares of PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of PTC from a “neutral” rating to an “overweight” rating and raised their price target for the company from $130.00 to $200.00 in a research report on Thursday, January 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $202.40.

PTC Stock Up 0.6 %

NASDAQ:PTC opened at $180.99 on Friday. The firm has a market capitalization of $21.64 billion, a P/E ratio of 91.87, a PEG ratio of 3.22 and a beta of 1.17. PTC has a 1-year low of $120.62 and a 1-year high of $194.24. The company’s fifty day moving average price is $183.55 and its 200-day moving average price is $170.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 1.19.

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

Insiders Place Their Bets

In other PTC news, CEO James E. Heppelmann sold 35,000 shares of PTC 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 in the company, valued at $171,631,594.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other PTC news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction dated 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 directly owns 13,864 shares in the company, valued at $2,489,835.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of PTC 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 sale, the chief executive officer now owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The disclosure for this sale can be found here. Insiders have sold 36,415 shares of company stock valued at $6,457,478 over the last ninety days. Company insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after acquiring an additional 1,569,081 shares in the last quarter. Twin Focus Capital Partners LLC acquired a new position in PTC during the 4th quarter worth approximately $177,081,000. Vanguard Group Inc. grew its holdings in PTC by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after acquiring an additional 859,227 shares in the last quarter. Norges Bank acquired a new position in PTC during the 4th quarter worth approximately $114,043,000. Finally, Balyasny Asset Management L.P. grew its holdings in PTC by 173.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock worth $95,050,000 after acquiring an additional 344,853 shares in the last quarter. 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.