PTC (NASDAQ:PTC) Reaches New 52-Week High – What’s Next?

Shares of PTC Inc. (NASDAQ:PTC) hit a new 52-week high during mid-day trading on Monday. The company traded as high as $196.05 and last traded at $195.69, with a volume of 720,064 shares traded. The stock had previously closed at $195.07.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PTC. Robert W. Baird lowered shares of PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. raised PTC from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $145.00 to $205.00 in a report on Monday, October 5th. Citigroup lifted their price target on PTC from $141.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 6th. Mizuho increased their target price on shares of PTC from $160.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 6th. Finally, Rosenblatt Securities downgraded PTC from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $190.00 to $205.00 in a research report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, PTC has an average rating of “Hold” and a consensus price target of $200.06.

PTC Stock Up 0.3%

The company has a market capitalization of $21.23 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.56 and a beta of 0.93. The company’s fifty day moving average is $166.98 and its 200-day moving average is $148.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.03 and a current ratio of 1.63.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, November 4th. The technology company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.06. PTC had a net margin of 37.80% and a return on equity of 20.03%. The company had revenue of $673.25 million during the quarter, compared to analysts’ expectations of $663.56 million. During the same period last year, the company posted $3.41 earnings per share. PTC’s quarterly revenue was down 24.7% on a year-over-year basis. As a group, analysts predict that PTC Inc. will post 7.12 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other news, Director Corinna Lathan sold 1,750 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the sale, the director owned 6,679 shares of the company’s stock, valued at $1,307,414.25. This trade represents a 20.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PTC. State Street Corp lifted its position in PTC by 10.2% during the second quarter. State Street Corp now owns 6,452,323 shares of the technology company’s stock worth $733,048,000 after buying an additional 596,955 shares in the last quarter. Janus Henderson Group PLC grew its stake in PTC by 0.3% during the 1st quarter. Janus Henderson Group PLC now owns 3,530,070 shares of the technology company’s stock worth $503,000,000 after purchasing an additional 11,278 shares in the last quarter. Jupiter Topco LLC purchased a new position in PTC in the second quarter worth approximately $418,553,000. Amundi grew its stake in shares of PTC by 151.9% during the first quarter. Amundi now owns 1,725,555 shares of the technology company’s stock worth $245,885,000 after purchasing an additional 1,040,656 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of PTC by 52.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,228,905 shares of the technology company’s stock worth $172,415,000 after acquiring an additional 423,096 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

About PTC

PTC Inc develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing.

PTC’s products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.