PTC (NASDAQ:PTC) Upgraded to “Buy” by StockNews.com

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

Several other brokerages have also issued reports on PTC. BMO Capital Markets boosted their price target on PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. KeyCorp boosted their price target on PTC from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Friday, April 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised PTC from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $200.00 in a research note on Thursday, January 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $196.73.

PTC Price Performance

PTC stock opened at $177.48 on Thursday. The stock’s 50 day moving average is $183.74 and its 200 day moving average is $168.35. 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 firm has a market cap of $21.22 billion, a P/E ratio of 90.09, a P/E/G ratio of 3.17 and a beta of 1.17. PTC has a one year low of $120.62 and a one year high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The company 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%. As a group, research analysts expect that PTC will post 3.47 EPS for the current year.

Insider Transactions at PTC

In other news, CEO James E. Heppelmann sold 35,000 shares of the company’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 directly 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 related news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction on 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Catherine Kniker sold 1,330 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total value 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 $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 ninety days. 1.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On PTC

A number of institutional investors and hedge funds have recently bought and sold shares of PTC. Lindbrook Capital LLC grew its stake 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 purchasing an additional 91 shares during the period. Itau Unibanco Holding S.A. bought a new position in PTC in the 2nd quarter valued at $25,000. Riverview Trust Co bought a new position in PTC in the 1st quarter valued at $34,000. Legacy Financial Group LLC bought a new position in PTC in the 3rd quarter valued at $28,000. Finally, Clear Street Markets LLC grew its stake 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 purchasing an additional 100 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.