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

PTC (NASDAQ:PTC) was downgraded by Berenberg Bank from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $196.00 price target on the technology company’s stock, down from their prior price target of $210.00. Berenberg Bank’s price target suggests a potential upside of 5.93% from the stock’s current price.

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

PTC Trading Down 0.2 %

Shares of PTC stock opened at $185.03 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market cap of $22.23 billion, a P/E ratio of 75.52, a PEG ratio of 2.72 and a beta of 1.17. The company has a 50 day moving average of $178.53 and a 200-day moving average of $177.82. PTC has a 12-month low of $135.16 and a 12-month high of $194.24.

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

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PTC news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction dated 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 sale, the director now owns 44,137 shares of the company’s stock, valued at $7,562,433.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the transaction, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock valued at $1,714,010 in the last 90 days. Corporate insiders own 1.17% of the company’s stock.

Institutional Trading of PTC

A number of hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in PTC by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock valued at $1,865,000 after buying an additional 61 shares during the period. Diversified Trust Co boosted its holdings in PTC by 2.9% during the 2nd quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock valued at $398,000 after acquiring an additional 62 shares during the period. First Horizon Advisors Inc. grew its position in 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 during the last quarter. IFM Investors Pty Ltd grew its position in PTC by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock worth $4,690,000 after acquiring an additional 66 shares during the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in PTC by 5.4% in the 1st quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock worth $275,000 after purchasing an additional 74 shares during the period. 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.