PTC (NASDAQ:PTC) Reaches New 12-Month Low – Here’s What Happened

PTC Inc. (NASDAQ:PTC)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $162.11 and last traded at $163.59, with a volume of 200293 shares traded. The stock had previously closed at $165.76.

Wall Street Analysts Forecast Growth

PTC has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. KeyCorp raised their price target on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Robert W. Baird raised their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Citigroup dropped their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Trading Down 2.2 %

The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $19.51 billion, a P/E ratio of 50.05, a PEG ratio of 2.33 and a beta of 1.19. The business has a 50 day moving average price of $183.63 and a 200 day moving average price of $183.18.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

Insider Buying and Selling at PTC

In related news, CFO Kristian Talvitie sold 10,306 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the sale, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. This represents a 15.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares in the company, valued at $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,539 shares of company stock valued at $3,301,697 in the last quarter. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

Institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in PTC during the fourth quarter worth $30,000. Allworth Financial LP grew its stake in PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the period. Covestor Ltd grew its stake in PTC by 70.8% in the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 80 shares during the period. Pinney & Scofield Inc. bought a new position in PTC in the 4th quarter valued at $47,000. Finally, Kapitalo Investimentos Ltda bought a new position in PTC in the 4th quarter valued at $51,000. 95.14% of the stock is owned by institutional investors and hedge funds.

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.