BMO Capital Markets Cuts PTC (NASDAQ:PTC) Price Target to $183.00

PTC (NASDAQ:PTC) had its price objective lowered by BMO Capital Markets from $220.00 to $183.00 in a report published on Wednesday, MarketBeat.com reports. The brokerage currently has an outperform rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Citigroup lowered their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $160.00 target price (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Barclays reduced their price target on shares of PTC from $215.00 to $175.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, KeyCorp increased their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and an average target price of $195.67.

PTC Stock Down 0.3 %

Shares of PTC stock opened at $143.56 on Wednesday. The firm has a market cap of $17.27 billion, a price-to-earnings ratio of 44.31, a P/E/G ratio of 2.27 and a beta of 1.17. The stock has a 50-day simple moving average of $156.63 and a 200-day simple moving average of $177.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC has a 52-week low of $133.38 and a 52-week high of $203.09.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, equities research analysts expect that PTC will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. The trade was a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC

Institutional investors have recently modified their holdings of the business. Bank Pictet & Cie Europe AG grew its holdings in shares of PTC by 1.4% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock worth $722,000 after purchasing an additional 55 shares in the last quarter. Wahed Invest LLC lifted its stake in shares of PTC by 2.1% in the fourth quarter. Wahed Invest LLC now owns 2,933 shares of the technology company’s stock worth $539,000 after acquiring an additional 61 shares during the period. Wedmont Private Capital raised its stake in PTC by 1.6% during the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock worth $734,000 after buying an additional 64 shares during the last quarter. Allworth Financial LP lifted its stake in shares of PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Finally, Portside Wealth Group LLC grew its position in shares of PTC by 2.4% during the 1st quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company’s stock worth $514,000 after buying an additional 78 shares during the period. Institutional investors 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.