Rosenblatt Securities Reiterates “Buy” Rating for PTC (NASDAQ:PTC)

PTC (NASDAQ:PTC)‘s stock had its “buy” rating reiterated by research analysts at Rosenblatt Securities in a report released on Friday, Benzinga reports. They presently have a $195.00 target price on the technology company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 8.30% from the company’s current price.

Other equities research analysts have also issued reports about the company. Robert W. Baird reaffirmed an “outperform” rating and issued a $210.00 target price on shares of PTC in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. raised PTC from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $130.00 to $200.00 in a research note on Thursday, January 4th. Mizuho increased their price target on PTC from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, BMO Capital Markets increased their price target on PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Two 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $196.73.

PTC Stock Performance

Shares of PTC opened at $180.06 on Friday. The business’s 50 day moving average is $183.75 and its two-hundred day moving average is $167.56. PTC has a 52-week low of $120.62 and a 52-week high of $194.24. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 91.40, a PEG ratio of 3.25 and a beta of 1.17. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The business had revenue of $550.21 million for the quarter, compared to analyst estimates of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. Analysts forecast that PTC will post 3.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total value 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 $171,631,594.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,415 shares of company stock valued at $6,457,478. Corporate insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Lindbrook Capital LLC grew its holdings in PTC by 108.3% in the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock valued at $31,000 after buying an additional 91 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in PTC in the 2nd quarter valued at approximately $25,000. Riverview Trust Co acquired a new stake in PTC in the 1st quarter valued at approximately $34,000. Legacy Financial Group LLC acquired a new stake in PTC in the 3rd quarter valued at approximately $28,000. Finally, Clear Street Markets LLC grew its holdings in PTC by 93.5% in the 1st quarter. Clear Street Markets LLC now owns 207 shares of the technology company’s stock valued at $27,000 after buying an additional 100 shares during 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.