PTC (NASDAQ:PTC) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a research report released on Monday.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. KeyCorp increased their price objective on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Citigroup lowered their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus raised their price target on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

PTC Stock Up 0.8 %

PTC opened at $161.24 on Monday. The firm’s 50 day simple moving average is $173.31 and its two-hundred day simple moving average is $181.46. The company has a market capitalization of $19.40 billion, a PE ratio of 49.77, a PEG ratio of 2.27 and a beta of 1.22. PTC has a 1-year low of $151.80 and a 1-year high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, equities analysts forecast that PTC will post 4.46 EPS for the current year.

Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now owns 7,604 shares of the company’s stock, valued at $1,182,650.12. The trade was a 7.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mirabella Financial Services LLP lifted its position in PTC by 542.2% during the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after purchasing an additional 17,465 shares during the last quarter. D1 Capital Partners L.P. purchased a new stake in shares of PTC during the 3rd quarter valued at about $84,549,000. Citigroup Inc. lifted its holdings in shares of PTC by 28.4% in the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after acquiring an additional 32,984 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in PTC by 5.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company’s stock worth $39,212,000 after acquiring an additional 9,893 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after acquiring an additional 135,677 shares during the last quarter. 95.14% of the stock is currently owned by 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.