PTC (NASDAQ:PTC) Downgraded to Hold at StockNews.com

StockNews.com cut shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a research note released on Saturday.

Several other equities research analysts have also issued reports on the company. Robert W. Baird reaffirmed an outperform rating and set a $210.00 target price on shares of PTC in a research report on Tuesday, April 2nd. BMO Capital Markets increased their price target on PTC from $195.00 to $200.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Oppenheimer increased their price target on PTC from $190.00 to $210.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. KeyCorp increased their price target on PTC from $190.00 to $205.00 and gave the stock an overweight rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reiterated an outperform rating and set a $202.00 price target on shares of PTC in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PTC has a consensus rating of Moderate Buy and a consensus price target of $202.40.

PTC Trading Down 1.8 %

NASDAQ PTC opened at $177.44 on Friday. The firm has a market capitalization of $21.21 billion, a P/E ratio of 90.07, a PEG ratio of 3.23 and a beta of 1.17. The business has a fifty day simple moving average of $183.61 and a 200 day simple moving average of $170.94. PTC has a 12 month low of $124.42 and a 12 month high of $194.24. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. PTC had a return on equity of 12.87% and a net margin of 10.86%. The business had revenue of $550.21 million during the quarter, compared to analyst estimates of $538.59 million. On average, analysts predict that PTC will post 3.47 EPS for the current fiscal year.

Insider Activity at PTC

In related news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the transaction, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other PTC news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James E. Heppelmann sold 35,000 shares of PTC stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares in the company, valued at $171,631,594.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,415 shares of company stock valued at $6,457,478. Corporate insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of large investors have recently made changes to their positions in the business. Hartline Investment Corp bought a new stake in PTC in the first quarter worth $498,000. Retirement Systems of Alabama raised its stake in shares of PTC by 0.8% in the first quarter. Retirement Systems of Alabama now owns 26,387 shares of the technology company’s stock worth $4,986,000 after purchasing an additional 198 shares during the last quarter. Norden Group LLC raised its stake in shares of PTC by 41.2% in the first quarter. Norden Group LLC now owns 4,591 shares of the technology company’s stock worth $867,000 after purchasing an additional 1,339 shares during the last quarter. Mitchell Sinkler & Starr PA purchased a new position in shares of PTC in the first quarter worth $283,000. Finally, Commonwealth Equity Services LLC raised its stake in shares of PTC by 2.6% in the first quarter. Commonwealth Equity Services LLC now owns 3,609 shares of the technology company’s stock worth $682,000 after purchasing an additional 93 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.