PTC (NASDAQ:PTC) Reaches New 12-Month Low – Here’s What Happened

PTC Inc. (NASDAQ:PTC) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $162.11 and last traded at $163.59, with a volume of 200293 shares. The stock had previously closed at $165.76.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PTC shares. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird raised their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. KeyCorp raised their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Piper Sandler raised their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Performance

The stock has a market cap of $19.51 billion, a P/E ratio of 50.05, a PEG ratio of 2.33 and a beta of 1.19. The business has a 50 day moving average price of $183.63 and a 200 day moving average price of $183.18. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. As a group, sell-side analysts expect that PTC Inc. will post 4.46 EPS for the current year.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the 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 transaction, the executive vice president now owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the transaction, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,539 shares of company stock worth $3,301,697 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On PTC

Hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of PTC during the 4th quarter worth approximately $30,000. Covestor Ltd grew its stake in PTC by 70.8% in the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 80 shares during the period. Allworth Financial LP grew its stake in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the period. Pinney & Scofield Inc. purchased a new stake in shares of PTC during the 4th quarter valued at $47,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of PTC during the 4th quarter valued at $51,000. Institutional investors and hedge funds 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.