PTC (NASDAQ:PTC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PTC (NASDAQ:PTC) from a buy rating to a strong-buy rating in a research report report published on Saturday morning.

Several other analysts also recently issued reports on PTC. Stifel Nicolaus upped their price target on PTC from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Wells Fargo & Company restated an “overweight” rating on shares of PTC in a research note on Tuesday, July 29th. BMO Capital Markets increased their target price on PTC from $187.00 to $231.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. KeyCorp restated an “overweight” rating and set a $245.00 target price (up previously from $192.00) on shares of PTC in a research note on Thursday, July 31st. Finally, Piper Sandler increased their target price on PTC from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PTC has an average rating of “Moderate Buy” and a consensus target price of $202.14.

PTC Stock Performance

Shares of PTC stock opened at $203.29 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. PTC has a fifty-two week low of $133.38 and a fifty-two week high of $219.69. The stock’s 50-day moving average is $186.31 and its two-hundred day moving average is $170.58. The firm has a market cap of $24.35 billion, a P/E ratio of 47.95, a PEG ratio of 2.18 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.42. The company had revenue of $643.94 million during the quarter, compared to the consensus estimate of $582.12 million. PTC had a return on equity of 17.09% and a net margin of 20.74%. The firm’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. Analysts predict that PTC will post 4.46 earnings per share for the current fiscal year.

Insider Activity at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total value of $429,984.52. Following the completion of the sale, the executive vice president owned 15,743 shares in the company, valued at approximately $3,405,053.47. This trade represents a 11.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

Hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its position in shares of PTC by 17.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company’s stock worth $3,147,478,000 after buying an additional 3,048,311 shares during the period. Vanguard Group Inc. lifted its position in shares of PTC by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after buying an additional 416,791 shares during the period. Geode Capital Management LLC lifted its position in shares of PTC by 8.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,415,785 shares of the technology company’s stock worth $586,438,000 after buying an additional 265,558 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of PTC by 41.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company’s stock worth $445,687,000 after buying an additional 844,418 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of PTC by 1.9% during the 1st quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company’s stock worth $367,382,000 after buying an additional 44,961 shares during the period. 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.