PTC (NASDAQ:PTC) Downgraded by StockNews.com

PTC (NASDAQ:PTC) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts also recently weighed in on the company. KeyCorp upped their target price on PTC from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Barclays boosted their price target on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler boosted their price target on PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Robert W. Baird reissued an “outperform” rating and issued a $210.00 price target on shares of PTC in a research note on Tuesday, April 2nd. Finally, Mizuho boosted their price target on PTC from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, PTC presently has an average rating of “Moderate Buy” and a consensus price target of $202.40.

PTC Price Performance

NASDAQ PTC opened at $180.99 on Friday. The stock’s 50-day moving average price is $183.55 and its two-hundred day moving average price is $170.05. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80. The company has a market cap of $21.64 billion, a PE ratio of 91.87, a PEG ratio of 3.22 and a beta of 1.17. PTC has a 1 year low of $120.62 and a 1 year high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. The firm had revenue of $550.21 million for the quarter, compared to the consensus estimate of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. On average, analysts predict that PTC will post 3.47 EPS for the current year.

Insiders Place Their Bets

In other PTC 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction that occurred 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 $171,631,594.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Catherine Kniker sold 1,330 shares of the stock in a transaction that occurred 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 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 company insiders.

Institutional Investors Weigh In On PTC

Several hedge funds have recently modified their holdings of the business. Yousif Capital Management LLC boosted its position in shares of PTC by 19.9% in the first quarter. Yousif Capital Management LLC now owns 18,021 shares of the technology company’s stock valued at $3,405,000 after acquiring an additional 2,997 shares during the period. Bank of New York Mellon Corp raised its stake in shares of PTC by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 1,066,671 shares of the technology company’s stock valued at $201,537,000 after purchasing an additional 166,112 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PTC by 69.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 150,019 shares of the technology company’s stock valued at $28,345,000 after purchasing an additional 61,646 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of PTC by 11.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,488 shares of the technology company’s stock valued at $9,161,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of PTC by 32.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,960 shares of the technology company’s stock valued at $1,693,000 after purchasing an additional 2,220 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

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.