PTC (NASDAQ:PTC) Shares Gap Down Following Analyst Downgrade

PTC Inc. (NASDAQ:PTC)’s share price gapped down prior to trading on Thursday after Citigroup lowered their price target on the stock from $195.00 to $187.00. The stock had previously closed at $174.96, but opened at $166.61. Citigroup currently has a neutral rating on the stock. PTC shares last traded at $174.00, with a volume of 332,354 shares changing hands.

PTC has been the topic of a number of other research reports. JPMorgan Chase & Co. raised PTC from a “neutral” rating to an “overweight” rating and increased their price target for the company from $130.00 to $200.00 in a research note on Thursday, January 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Friday, April 12th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Oppenheimer lifted their price target on shares of PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets upped their price objective 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.64.

Insider Transactions at PTC

In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the business’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 sale, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PTC 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 transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Catherine Kniker sold 1,330 shares of the company’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 in the company, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

Institutional Trading of PTC

A number of hedge funds have recently modified their holdings of the stock. Mutual of America Capital Management LLC lifted its holdings in PTC by 1.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 26,607 shares of the technology company’s stock worth $5,027,000 after purchasing an additional 261 shares during the last quarter. Daiwa Securities Group Inc. increased its position in PTC by 0.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 28,013 shares of the technology company’s stock worth $5,293,000 after buying an additional 243 shares during the period. Nordea Investment Management AB boosted its position in shares of PTC by 3.6% in the first quarter. Nordea Investment Management AB now owns 9,240 shares of the technology company’s stock valued at $1,748,000 after acquiring an additional 322 shares during the period. Fidelis Capital Partners LLC boosted its position in shares of PTC by 5.4% in the first quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $275,000 after acquiring an additional 74 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of PTC by 14.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,658 shares of the technology company’s stock valued at $691,000 after acquiring an additional 459 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Trading Up 3.0 %

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 $183.30 and its 200 day moving average is $171.18. The firm has a market capitalization of $21.01 billion, a P/E ratio of 89.22, a price-to-earnings-growth ratio of 3.12 and a beta of 1.19.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $550.21 million for the quarter, compared to analysts’ expectations of $538.59 million. PTC had a net margin of 12.84% and a return on equity of 14.08%. As a group, analysts anticipate that PTC Inc. will post 3.47 EPS for the current fiscal year.

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.