PTC (NASDAQ:PTC) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a research report report published on Friday.

A number of other research analysts have also recently weighed in on PTC. Rosenblatt Securities restated a “buy” rating and issued a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. Robert W. Baird boosted their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and cut their price objective for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Royal Bank of Canada lifted their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, PTC presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Trading Down 2.5 %

Shares of PTC stock opened at $161.65 on Friday. PTC has a twelve month low of $161.02 and a twelve month high of $203.09. The firm’s 50-day moving average price is $183.63 and its 200 day moving average price is $183.18. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $19.45 billion, a PE ratio of 49.89, a P/E/G ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, sell-side analysts predict that PTC will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the sale, the chief financial officer now owns 57,134 shares in the company, valued at approximately $11,389,091.56. This represents a 15.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,539 shares of company stock worth $3,301,697. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of PTC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTC. Aster Capital Management DIFC Ltd purchased a new stake in PTC in the 4th quarter worth approximately $30,000. Covestor Ltd boosted its holdings in shares of PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 80 shares during the last quarter. Allworth Financial LP grew its position in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Pinney & Scofield Inc. acquired a new position in PTC in the fourth quarter valued at $47,000. Finally, Kapitalo Investimentos Ltda purchased a new position in PTC during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.