PTC (PTC) Stock Rating Reaffirmed by Wedbush
PTC (NASDAQ:PTC)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research note issued to investors on Wednesday, The Fly reports. They currently have a $91.00 target price on the technology company’s stock, up from their prior target price of $78.00. Wedbush’s price target indicates a potential upside of 14.49% from the stock’s current price.
Several other equities analysts have also recently issued reports on PTC. BidaskClub cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. JPMorgan Chase & Co. cut shares of PTC from an “overweight” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research note on Tuesday, December 12th. Robert W. Baird reiterated a “buy” rating and issued a $68.00 price objective on shares of PTC in a research note on Thursday, January 4th. Evercore ISI reiterated a “buy” rating and issued a $85.00 price objective on shares of PTC in a research note on Thursday, January 18th. Finally, Citigroup increased their price objective on shares of PTC to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $73.25.
PTC (NASDAQ:PTC) opened at $79.48 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.03 and a current ratio of 1.02. The stock has a market cap of $9,349.27, a PE ratio of 317.92, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42. PTC has a one year low of $50.68 and a one year high of $81.72.
In related news, EVP Anthony Dibona sold 5,464 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $73.97, for a total value of $404,172.08. Following the completion of the transaction, the executive vice president now directly owns 36,317 shares of the company’s stock, valued at $2,686,368.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $72.34, for a total transaction of $1,808,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,964 shares of company stock valued at $2,765,872. 1.19% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB purchased a new position in PTC in the fourth quarter valued at about $574,000. Pennant Capital Management LLC grew its stake in PTC by 57.9% in the fourth quarter. Pennant Capital Management LLC now owns 658,587 shares of the technology company’s stock valued at $40,022,000 after purchasing an additional 241,595 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in PTC in the fourth quarter valued at about $4,445,000. Gotham Asset Management LLC purchased a new position in PTC in the fourth quarter valued at about $1,067,000. Finally, Pacific Grove Capital LP grew its stake in PTC by 43.8% in the fourth quarter. Pacific Grove Capital LP now owns 115,000 shares of the technology company’s stock valued at $6,989,000 after purchasing an additional 35,000 shares during the last quarter. 97.98% of the stock is owned by institutional investors.
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PTC Company Profile
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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