PTC (NASDAQ:PTC) Sets New 52-Week High – Should You Buy?

PTC Inc. (NASDAQ:PTC) reached a new 52-week high during trading on Thursday . The stock traded as high as $202.96 and last traded at $202.86, with a volume of 97864 shares changing hands. The stock had previously closed at $201.89.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target 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. Robert W. Baird upped their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Piper Sandler raised their target price on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and lowered their price target for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.67.

PTC Trading Down 1.3 %

The firm’s fifty day simple moving average is $190.66 and its 200-day simple moving average is $181.07. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $23.87 billion, a P/E ratio of 63.88, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 5,373 shares of PTC 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 in the company, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, 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. Over the last quarter, insiders have sold 18,242 shares of company stock valued at $3,630,716. 1.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

A number of hedge funds have recently added to or reduced their stakes in PTC. Sequoia Financial Advisors LLC boosted its position in shares of PTC by 23.1% during the second quarter. Sequoia Financial Advisors LLC now owns 1,379 shares of the technology company’s stock valued at $251,000 after buying an additional 259 shares during the last quarter. Swedbank AB grew its stake in shares of PTC by 12.6% in the 2nd quarter. Swedbank AB now owns 58,672 shares of the technology company’s stock worth $10,659,000 after acquiring an additional 6,543 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of PTC during the second quarter valued at about $31,000. Finally, First Horizon Advisors Inc. boosted its holdings in PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares during 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.