PTC (NASDAQ:PTC) Downgraded by JPMorgan Chase & Co. to “Underweight”

JPMorgan Chase & Co. cut shares of PTC (NASDAQ:PTC) from a neutral rating to an underweight rating in a report published on Monday, MarketBeat.com reports. They currently have $162.00 target price on the technology company’s stock, down from their previous target price of $205.00.

PTC has been the subject of several other reports. Oppenheimer reduced their target price on PTC from $240.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, January 28th. Piper Sandler reduced their price objective on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. BMO Capital Markets decreased their price objective on shares of PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Weiss Ratings lowered shares of PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Citigroup decreased their price target on PTC from $185.00 to $181.00 and set a “neutral” rating for the company in a research note on Wednesday, January 28th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.92.

PTC Stock Up 0.5%

Shares of PTC stock opened at $156.92 on Monday. PTC has a 1-year low of $133.38 and a 1-year high of $219.69. The company has a market capitalization of $18.66 billion, a PE ratio of 25.56, a P/E/G ratio of 2.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The business has a 50-day moving average of $171.41 and a 200-day moving average of $190.74.

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

Insider Buying and Selling

In related news, EVP Kristian Talvitie sold 50,291 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total value of $8,707,383.74. Following the sale, the executive vice president owned 12,386 shares of the company’s stock, valued at approximately $2,144,512.04. This trade represents a 80.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Staats Aaron C. Von sold 6,328 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $174.79, for a total value of $1,106,071.12. Following the transaction, the executive vice president owned 22,461 shares of the company’s stock, valued at $3,925,958.19. This represents a 21.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 61,277 shares of company stock valued at $10,624,076. 0.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

Several hedge funds and other institutional investors have recently made changes to their positions in PTC. Vanguard Group Inc. increased its position 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 acquiring an additional 416,791 shares during the period. State Street Corp grew its stake in shares of PTC by 4.1% in the third 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of PTC by 8.4% during the second quarter. Geode Capital Management LLC now owns 3,415,785 shares of the technology company’s stock valued at $586,438,000 after purchasing an additional 265,558 shares during the period. Standard Investments LLC raised its stake in shares of PTC by 10.4% during the third quarter. Standard Investments LLC now owns 1,586,000 shares of the technology company’s stock valued at $321,990,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in PTC by 31.4% in the second quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock worth $266,715,000 after purchasing an additional 370,097 shares during the period. 95.14% of the stock is currently owned by institutional investors and hedge funds.

About PTC

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.