PTC (NASDAQ:PTC) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a report released on Wednesday.

Other analysts have also recently issued research reports about the company. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and cut their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Royal Bank of Canada upped their price target on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $204.00 price objective on shares of PTC in a report on Tuesday. Stifel Nicolaus increased their target price on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Citigroup decreased their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.00.

PTC Trading Down 0.7 %

Shares of PTC opened at $189.76 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC has a one year low of $163.30 and a one year high of $203.09. The stock has a 50-day moving average price of $190.67 and a 200 day moving average price of $183.69. The company has a market capitalization of $22.84 billion, a P/E ratio of 61.02, a P/E/G ratio of 2.62 and a beta of 1.19.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.63% and a net margin of 16.37%. Sell-side analysts forecast that PTC will post 4.62 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock valued at $3,630,716 in the last quarter. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of institutional investors and hedge funds have recently bought and sold shares of PTC. Fernbridge Capital Management LP increased its position in shares of PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after acquiring an additional 650,990 shares in the last quarter. Congress Asset Management Co. raised its position in shares of PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after purchasing an additional 586,443 shares during the period. D1 Capital Partners L.P. bought a new position in PTC during the third quarter worth about $84,549,000. Massachusetts Financial Services Co. MA boosted its position in shares of PTC by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after acquiring an additional 150,652 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after buying an additional 135,677 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.