PTC (NASDAQ:PTC) Earns Buy Rating from Rosenblatt Securities

PTC (NASDAQ:PTC)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $220.00 price objective on the technology company’s stock. Rosenblatt Securities’ target price suggests a potential upside of 32.71% from the stock’s previous close.

Several other analysts also recently weighed in on PTC. Robert W. Baird set a $255.00 price objective on PTC in a research report on Wednesday, October 22nd. Zacks Research cut shares of PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen raised shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. BMO Capital Markets dropped their price objective on shares of PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Finally, Weiss Ratings lowered shares of PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.92.

PTC Stock Performance

Shares of PTC stock opened at $165.77 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The company has a market cap of $19.71 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. The company has a 50 day moving average of $172.71 and a 200-day moving average of $191.97. PTC has a 1-year low of $133.38 and a 1-year high of $219.69.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. The business had revenue of $1.76 billion during the quarter. PTC had a net margin of 27.05% and a return on equity of 23.02%. As a group, equities research analysts forecast that PTC will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kristian Talvitie sold 50,291 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the completion of the transaction, the executive vice president directly owned 12,386 shares of the company’s stock, valued at $2,144,512.04. This trade represents a 80.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Staats Aaron C. Von sold 6,328 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $174.79, for a total value of $1,106,071.12. Following the completion of the sale, the executive vice president owned 22,461 shares in the company, valued at $3,925,958.19. This trade represents a 21.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 61,277 shares of company stock worth $10,624,076. 0.29% of the stock is owned by company insiders.

Institutional Trading of PTC

Several institutional investors have recently added to or reduced their stakes in PTC. Empowered Funds LLC lifted its position in shares of PTC by 3.1% in the 1st quarter. Empowered Funds LLC now owns 2,498 shares of the technology company’s stock worth $387,000 after purchasing an additional 75 shares during the period. Geneos Wealth Management Inc. boosted its position in PTC by 34.4% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock valued at $46,000 after acquiring an additional 76 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in PTC by 26.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,372 shares of the technology company’s stock valued at $769,000 after acquiring an additional 918 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in PTC during the 2nd quarter worth about $255,000. Finally, Signaturefd LLC raised its position in shares of PTC by 47.9% in the 2nd quarter. Signaturefd LLC now owns 1,693 shares of the technology company’s stock worth $292,000 after acquiring an additional 548 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

About PTC

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.