PTC’s (PTC) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of PTC (NASDAQ:PTC) in a research report sent to investors on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $220.00 price objective on the technology company’s stock.

A number of other analysts have also issued reports on PTC. BMO Capital Markets cut their target price on PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings downgraded PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Zacks Research downgraded shares of PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Piper Sandler decreased their target price on PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Finally, Robert W. Baird set a $255.00 price target on shares of PTC in a research report on Wednesday, October 22nd. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and an average target price of $205.92.

PTC Stock Down 0.7%

PTC stock opened at $164.63 on Tuesday. The firm’s 50 day moving average price is $172.54 and its 200-day moving average price is $191.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $19.58 billion, a PE ratio of 26.81, a PEG ratio of 2.76 and a beta of 1.01. PTC has a one year low of $133.38 and a one year high of $219.69.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. The business had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%. On average, equities research analysts anticipate that PTC will post 4.46 EPS for the current year.

Insider Buying and Selling at PTC

In other news, EVP Kristian Talvitie sold 50,291 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the transaction, the executive vice president directly owned 12,386 shares of the company’s stock, valued at $2,144,512.04. This represents a 80.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 6,328 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the transaction, the executive vice president owned 22,461 shares in the company, valued at $3,925,958.19. The trade was a 21.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,277 shares of company stock worth $10,624,076 over the last 90 days. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in PTC by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock valued at $2,541,838,000 after purchasing an additional 416,791 shares in the last quarter. State Street Corp lifted its stake in shares of PTC by 4.1% in the 3rd quarter. State Street Corp now owns 5,593,645 shares of the technology company’s stock valued at $1,135,622,000 after purchasing an additional 221,349 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 valued at $586,438,000 after acquiring an additional 265,558 shares in the last quarter. Standard Investments LLC boosted its holdings in PTC by 10.4% in the 3rd quarter. Standard Investments LLC now owns 1,586,000 shares of the technology company’s stock worth $321,990,000 after acquiring an additional 150,000 shares during the period. Finally, Lazard Asset Management LLC boosted its position in PTC by 31.4% in the 2nd quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock valued at $266,715,000 after buying an additional 370,097 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.