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 research report report published on Friday.

A number of other research firms have also recently commented on PTC. Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Royal Bank of Canada boosted their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, Robert W. Baird upped their target price on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $204.83.

PTC Stock Up 1.5 %

NASDAQ PTC traded up $2.78 during trading hours on Friday, hitting $192.83. The company’s stock had a trading volume of 1,598,923 shares, compared to its average volume of 808,537. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $180.03 and its two-hundred day simple moving average is $178.31. The company has a market capitalization of $23.17 billion, a PE ratio of 62.00, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. PTC has a 52 week low of $148.01 and a 52 week high of $199.48.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.11. PTC had a return on equity of 14.99% and a net margin of 16.37%. The business had revenue of $626.55 million during the quarter, compared to the consensus estimate of $620.49 million. Research analysts anticipate that PTC will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

Hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC increased its position in PTC by 19.8% during the 3rd quarter. Intech Investment Management LLC now owns 25,290 shares of the technology company’s stock valued at $4,569,000 after purchasing an additional 4,177 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of PTC by 9.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,335 shares of the technology company’s stock valued at $1,325,000 after purchasing an additional 654 shares in the last quarter. Commerce Bank increased its position in shares of PTC by 6.3% during the third quarter. Commerce Bank now owns 47,404 shares of the technology company’s stock valued at $8,564,000 after buying an additional 2,792 shares during the period. Parnassus Investments LLC lifted its holdings in PTC by 0.4% in the third quarter. Parnassus Investments LLC now owns 99,226 shares of the technology company’s stock worth $17,926,000 after buying an additional 398 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in PTC in the third quarter worth about $1,235,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.