PTC (NASDAQ:PTC) Upgraded to Buy at StockNews.com

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

A number of other research analysts also recently issued reports on PTC. Royal Bank of Canada boosted their price objective on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price objective on shares of PTC in a research note on Tuesday. Robert W. Baird boosted their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price target on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Four equities 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Trading Down 1.5 %

PTC stock opened at $169.02 on Wednesday. The business has a 50-day simple moving average of $189.94 and a two-hundred day simple moving average of $183.65. The company has a market cap of $20.34 billion, a P/E ratio of 54.35, a P/E/G ratio of 2.62 and a beta of 1.19. PTC has a 52-week low of $163.30 and a 52-week high of $203.09. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

PTC (NASDAQ:PTC) last released 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 net margin of 16.37% and a return on equity of 14.63%. Analysts predict that PTC will post 4.62 EPS for the current year.

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the sale, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. This represents a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the company’s 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 sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock valued at $3,630,716 in the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its holdings in PTC by 27.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,860 shares of the technology company’s stock valued at $342,000 after buying an additional 399 shares during the period. Wealthfront Advisers LLC raised its holdings in PTC by 1,264.9% during the 4th quarter. Wealthfront Advisers LLC now owns 15,696 shares of the technology company’s stock valued at $2,886,000 after buying an additional 14,546 shares during the period. Daiwa Securities Group Inc. raised its holdings in PTC by 19.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 58,683 shares of the technology company’s stock valued at $10,790,000 after buying an additional 9,551 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PTC by 46.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 165,284 shares of the technology company’s stock valued at $30,391,000 after buying an additional 52,237 shares during the period. Finally, AlphaQuest LLC purchased a new stake in PTC during the 4th quarter valued at $1,793,000. 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.