PTC (NASDAQ:PTC) Lowered to Hold Rating by Berenberg Bank

Berenberg Bank cut shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a research report released on Friday morning, Marketbeat.com reports. The brokerage currently has $196.00 price objective on the technology company’s stock, down from their previous price objective of $210.00.

PTC has been the subject of several other research reports. Piper Sandler upped their price target on shares of PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 target price on shares of PTC in a report on Thursday, August 1st. Robert W. Baird upped their price target on PTC from $216.00 to $226.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Finally, StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.67.

PTC Trading Down 0.2 %

Shares of PTC stock traded down $0.30 during trading hours on Friday, reaching $185.03. 739,700 shares of the company’s stock were exchanged, compared to its average volume of 795,678. The firm has a market capitalization of $22.23 billion, a price-to-earnings ratio of 75.52, a price-to-earnings-growth ratio of 2.75 and a beta of 1.17. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC has a 52-week low of $135.16 and a 52-week high of $194.24. The company has a fifty day moving average of $178.53 and a 200-day moving average of $177.82.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. PTC had a return on equity of 13.36% and a net margin of 13.32%. The company had revenue of $518.64 million during the quarter, compared to analysts’ expectations of $533.04 million. Sell-side analysts forecast that PTC will post 3.51 EPS for the current fiscal year.

Insider Buying and Selling

In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total transaction of $685,360.00. Following the transaction, the director now owns 44,137 shares in the company, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the sale, the director now directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,000 shares of company stock worth $1,714,010. 1.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PTC. First Horizon Advisors Inc. boosted its stake in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Blue Trust Inc. increased its stake in PTC by 762.5% in the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Rothschild Investment LLC purchased a new stake in PTC during the second quarter valued at about $29,000. International Assets Investment Management LLC acquired a new position in shares of PTC in the second quarter worth about $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of PTC in the second quarter worth approximately $31,000. Institutional investors and hedge funds 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.