PTC (NASDAQ:PTC) Stock Rating Upgraded by StockNews.com

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

A number of other research analysts have also issued reports on the stock. BMO Capital Markets raised their target price on shares of PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Mizuho lowered their price target on PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird boosted their price objective on PTC from $185.00 to $191.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $160.00 target price (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Finally, Piper Sandler cut their price target on PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.15.

PTC Stock Down 1.6 %

PTC stock opened at $158.72 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $19.04 billion, a P/E ratio of 48.99, a P/E/G ratio of 2.27 and a beta of 1.19. PTC has a 1-year low of $133.38 and a 1-year high of $203.09. The firm’s fifty day simple moving average is $153.39 and its 200-day simple moving average is $174.97.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. During the same quarter in the prior year, the firm posted $1.46 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts forecast that PTC will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Corinna Lathan sold 622 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. This represents a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

Several institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its stake in shares of PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after purchasing an additional 30,525 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in PTC by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 149,071 shares of the technology company’s stock valued at $26,931,000 after purchasing an additional 5,403 shares during the last quarter. GAMMA Investing LLC boosted its position in PTC by 86.8% in the fourth quarter. GAMMA Investing LLC now owns 2,600 shares of the technology company’s stock valued at $478,000 after buying an additional 1,208 shares in the last quarter. Everence Capital Management Inc. bought a new stake in PTC during the fourth quarter worth about $474,000. Finally, Nordea Investment Management AB increased its holdings in shares of PTC by 5.0% during the fourth quarter. Nordea Investment Management AB now owns 10,084 shares of the technology company’s stock worth $1,854,000 after buying an additional 479 shares in the last quarter. 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.