PTC (NASDAQ:PTC) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a research note published on Wednesday.

PTC has been the topic of a number of other research reports. JPMorgan Chase & Co. raised 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 report on Thursday, January 4th. 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 report on Tuesday, January 9th. Mizuho raised their price target on shares of PTC from $200.00 to $210.00 and gave the company a buy rating in a report on Thursday, February 1st. Royal Bank of Canada reaffirmed an outperform rating and set a $202.00 price target on shares of PTC in a report on Thursday, February 1st. Finally, Oppenheimer raised their price target on shares of PTC from $190.00 to $210.00 and gave the company an outperform rating in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $192.27.

PTC Stock Performance

Shares of PTC stock opened at $181.92 on Wednesday. PTC has a one year low of $120.62 and a one year high of $194.24. The company’s 50-day moving average is $183.66 and its 200 day moving average is $166.98. The company has a market capitalization of $21.75 billion, a price-to-earnings ratio of 92.35, a price-to-earnings-growth ratio of 3.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $538.59 million. Sell-side analysts expect that PTC will post 3.47 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other PTC news, CEO James E. Heppelmann sold 35,000 shares of PTC stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. 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 90 days. 1.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PTC

Hedge funds have recently modified their holdings of the stock. Czech National Bank raised its stake in PTC by 1.1% during the first quarter. Czech National Bank now owns 21,035 shares of the technology company’s stock valued at $3,974,000 after purchasing an additional 223 shares in the last quarter. Mather Group LLC. purchased a new stake in PTC during the first quarter valued at $109,000. GAMMA Investing LLC raised its stake in PTC by 53.6% during the first quarter. GAMMA Investing LLC now owns 1,054 shares of the technology company’s stock valued at $199,000 after purchasing an additional 368 shares in the last quarter. CWM LLC raised its stake in PTC by 162.1% during the first quarter. CWM LLC now owns 3,391 shares of the technology company’s stock valued at $641,000 after purchasing an additional 2,097 shares in the last quarter. Finally, Symmetry Partners LLC purchased a new stake in PTC during the first quarter valued at $210,000. Hedge funds and other institutional investors 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.