PTC (NASDAQ:PTC) Lowered to “Hold” at StockNews.com

PTC (NASDAQ:PTC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other equities analysts also recently weighed in on the stock. Robert W. Baird increased their price target on shares of PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. KeyCorp upped their price objective on shares of PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Piper Sandler upped their target price on PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Citigroup decreased their price target on shares of PTC from $195.00 to $187.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Finally, Barclays increased their target price on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.64.

PTC Stock Performance

Shares of PTC opened at $178.33 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.19 and a current ratio of 1.32. The stock has a 50-day moving average of $183.03 and a two-hundred day moving average of $172.13. The stock has a market cap of $21.35 billion, a P/E ratio of 74.62, a P/E/G ratio of 3.48 and a beta of 1.19. PTC has a one year low of $128.61 and a one year high of $194.24.

Insider Activity

In other PTC news, insider Catherine Kniker sold 1,330 shares of the company’s 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 transaction, the insider now owns 13,864 shares in the company, valued at $2,489,835.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTC. Wellington Management Group LLP increased its position in PTC by 1,409.3% in the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after acquiring an additional 1,569,081 shares during the period. Twin Focus Capital Partners LLC acquired a new position in PTC in the 4th quarter valued at $177,081,000. Vanguard Group Inc. raised its position in PTC by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after buying an additional 859,227 shares during the last quarter. Norges Bank acquired a new stake in shares of PTC in the 4th quarter worth $114,043,000. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of PTC by 173.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock valued at $95,050,000 after acquiring an additional 344,853 shares in the last quarter. 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.