PTC (NASDAQ:PTC) Price Target Cut to $120.00 by Analysts at Barclays

PTC (NASDAQ:PTC – Get Rating) had its price target decreased by Barclays from $141.00 to $120.00 in a report released on Thursday, The Fly reports. Barclays‘s target price indicates a potential upside of 22.93% from the stock’s current price.

Several other research firms also recently issued reports on PTC. Royal Bank of Canada decreased their price objective on shares of PTC from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday. Citigroup reduced their target price on shares of PTC from $120.00 to $110.00 in a research report on Monday. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research report on Sunday. TheStreet cut shares of PTC from a “b-” rating to a “c+” rating in a research report on Tuesday, February 8th. Finally, Mizuho raised their price objective on shares of PTC from $125.00 to $135.00 in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $139.11.

Shares of NASDAQ PTC opened at $97.62 on Thursday. The company’s fifty day moving average price is $105.84 and its 200 day moving average price is $114.30. PTC has a 1 year low of $96.55 and a 1 year high of $153.73. The company has a market capitalization of $11.51 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 3.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.29 and a current ratio of 1.29.

PTC (NASDAQ:PTC – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.27. The business had revenue of $505.23 million for the quarter, compared to the consensus estimate of $482.34 million. PTC had a net margin of 27.21% and a return on equity of 17.89%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. On average, equities analysts expect that PTC will post 3.07 EPS for the current year.

In other PTC news, CEO James E. Heppelmann sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $116.16, for a total value of $580,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 3,741 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $116.27, for a total transaction of $434,966.07. The disclosure for this sale can be found here. Insiders own 10.15% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. grew its position in PTC by 365.7% in the fourth quarter. Alliancebernstein L.P. now owns 3,221,866 shares of the technology company’s stock valued at $390,329,000 after acquiring an additional 2,530,102 shares in the last quarter. Standard Investments LLC boosted its stake in shares of PTC by 36.8% during the 4th quarter. Standard Investments LLC now owns 4,368,000 shares of the technology company’s stock valued at $529,183,000 after buying an additional 1,175,464 shares during the last quarter. Liontrust Investment Partners LLP purchased a new position in shares of PTC during the 3rd quarter valued at approximately $127,313,000. Norges Bank purchased a new position in shares of PTC during the 4th quarter valued at approximately $101,089,000. Finally, FIL Ltd boosted its stake in shares of PTC by 60.4% during the 3rd quarter. FIL Ltd now owns 2,204,730 shares of the technology company’s stock valued at $264,105,000 after buying an additional 830,313 shares during the last quarter. 92.93% of the stock is owned by hedge funds and other institutional investors.

PTC Company Profile (Get Rating)

PTC Inc operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers a set of capabilities that enable enterprises to digitally transform every aspect of their business with innovative solutions that are simple to create, easy to implement, scalable to meet future needs, and designed to enable customers to accelerate time to value; and Vuforia, which enables the visualization of digital information in a physical context and the creation of AR.

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