PTC (NASDAQ:PTC) Price Target Cut to $181.00 by Analysts at Citigroup

PTC (NASDAQ:PTC) had its price target lowered by Citigroup from $185.00 to $181.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other analysts also recently issued reports on PTC. Robert W. Baird set a $255.00 price objective on shares of PTC in a research report on Wednesday, October 22nd. BMO Capital Markets dropped their price target on shares of PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Piper Sandler cut their price objective on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Weiss Ratings downgraded PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price target on shares of PTC in a research note on Tuesday. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.77.

PTC Stock Performance

NASDAQ:PTC opened at $161.91 on Wednesday. The firm’s fifty day simple moving average is $172.34 and its 200 day simple moving average is $191.56. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. PTC has a twelve month low of $133.38 and a twelve month high of $219.69. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.74 and a beta of 1.01.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. The company 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%. As a group, equities research analysts expect that PTC will post 4.46 earnings per share for the current fiscal year.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction dated Monday, December 8th. The shares were 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 of the company’s stock, valued at approximately $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kristian Talvitie sold 50,291 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the sale, the executive vice president directly owned 12,386 shares of the company’s stock, valued at approximately $2,144,512.04. This represents a 80.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 61,277 shares of company stock worth $10,624,076. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in PTC by 2.9% in the second quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after acquiring an additional 416,791 shares during the last quarter. State Street Corp raised its position in shares of PTC by 4.1% during the 3rd quarter. State Street Corp now owns 5,593,645 shares of the technology company’s stock worth $1,135,622,000 after purchasing an additional 221,349 shares during the period. Geode Capital Management LLC lifted its holdings in shares of PTC by 8.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,415,785 shares of the technology company’s stock worth $586,438,000 after purchasing an additional 265,558 shares during the last quarter. Standard Investments LLC lifted its holdings in shares of 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 purchasing an additional 150,000 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in PTC by 31.4% during 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 purchasing an additional 370,097 shares during the period. Institutional investors own 95.14% of the company’s stock.

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.