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

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a research note released on Monday morning.

Other research analysts have also issued reports about the company. Barclays cut their target price on PTC from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Piper Sandler dropped their price objective on shares of PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus decreased their target price on shares of PTC from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $160.00 price target (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Finally, Oppenheimer decreased their price objective on PTC from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.15.

PTC Price Performance

NASDAQ PTC opened at $161.33 on Monday. The stock has a 50-day simple moving average of $153.48 and a 200 day simple moving average of $175.08. PTC has a twelve month low of $133.38 and a twelve month high of $203.09. The stock has a market capitalization of $19.41 billion, a PE ratio of 49.79, a P/E/G ratio of 2.27 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The firm had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. During the same period in the prior year, the firm earned $1.46 EPS. The business’s revenue was up 5.5% on a year-over-year basis. Research analysts anticipate that PTC will post 4.46 EPS for the current year.

Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

A number of large investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of PTC by 11.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock valued at $3,174,432,000 after purchasing an additional 1,773,653 shares during the period. Vanguard Group Inc. lifted its position in shares of PTC by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after buying an additional 240,080 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock worth $555,626,000 after acquiring an additional 67,504 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in PTC by 41.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company’s stock valued at $445,687,000 after acquiring an additional 844,418 shares during the period. Finally, Fernbridge Capital Management LP lifted its holdings in PTC by 6.0% during the 4th quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company’s stock valued at $278,484,000 after purchasing an additional 85,564 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.