PTC’s (PTC) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of PTC (NASDAQ:PTC) in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a $227.00 price objective on the technology company’s stock.

PTC has been the subject of a number of other reports. Stifel Nicolaus upped their price target on PTC from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Piper Sandler upped their price target on PTC from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Weiss Ratings lowered PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen upgraded PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 20th. Finally, UBS Group restated a “buy” rating on shares of PTC in a research report on Tuesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.31.

PTC Price Performance

PTC stock opened at $198.54 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50 day simple moving average of $205.49 and a 200-day simple moving average of $188.45. The firm has a market capitalization of $23.78 billion, a PE ratio of 46.83, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14. PTC has a 1 year low of $133.38 and a 1 year high of $219.69.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.42. The business had revenue of $643.94 million during the quarter, compared to analyst estimates of $582.12 million. PTC had a return on equity of 17.09% and a net margin of 20.74%.The business’s revenue was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. Equities research analysts anticipate that PTC will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the 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 transaction, the executive vice president directly owned 15,743 shares in the company, valued at approximately $3,405,053.47. This represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its position in shares of PTC by 8.3% during the first quarter. Sequoia Financial Advisors LLC now owns 2,014 shares of the technology company’s stock worth $312,000 after buying an additional 154 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of PTC by 20.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,510 shares of the technology company’s stock worth $2,091,000 after buying an additional 2,285 shares during the period. Amalgamated Bank boosted its position in shares of PTC by 2.5% during the first quarter. Amalgamated Bank now owns 24,805 shares of the technology company’s stock worth $3,844,000 after buying an additional 616 shares during the period. Mather Group LLC. boosted its position in shares of PTC by 18.3% during the first quarter. Mather Group LLC. now owns 845 shares of the technology company’s stock worth $131,000 after buying an additional 131 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of PTC by 2.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,726 shares of the technology company’s stock worth $2,592,000 after buying an additional 411 shares during the period. 95.14% of the stock is currently owned by hedge funds and other 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.