PTC’s (PTC) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of PTC (NASDAQ:PTC) in a report released on Tuesday,Benzinga reports. They currently have a $204.00 price objective on the technology company’s stock.

Several other equities analysts have also recently issued reports on PTC. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and decreased their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Stifel Nicolaus raised their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Piper Sandler increased their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.20.

PTC Stock Performance

Shares of PTC stock opened at $191.07 on Tuesday. The firm has a market capitalization of $23.00 billion, a price-to-earnings ratio of 61.44, a PEG ratio of 2.62 and a beta of 1.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average price is $190.83 and its 200-day moving average price is $183.58. PTC has a 12 month low of $163.30 and a 12 month high of $203.09.

Insider Transactions at PTC

In other news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now owns 6,843 shares in the company, valued at approximately $1,368,600. This trade represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock valued at $3,630,716 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Covestor Ltd lifted its holdings in PTC by 70.8% during the third 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 raised 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 worth $35,000 after purchasing an additional 69 shares during the period. Brooklyn Investment Group purchased a new position in shares of PTC in the 3rd quarter worth about $66,000. Park Place Capital Corp purchased a new stake in PTC during the third quarter worth about $67,000. Finally, Sentry Investment Management LLC bought a new stake in PTC in the fourth quarter worth about $84,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Company Profile

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.