PTC (NASDAQ:PTC) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a report released on Tuesday.

Other research analysts have also recently issued reports about the company. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and reduced their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. 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. Royal Bank of Canada increased their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Piper Sandler boosted their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and a consensus price target of $207.54.

PTC Trading Up 1.5 %

Shares of NASDAQ:PTC opened at $192.01 on Tuesday. The company’s 50-day moving average price is $191.15 and its two-hundred day moving average price is $183.34. PTC has a one year low of $163.30 and a one year high of $203.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $23.11 billion, a PE ratio of 61.74, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. The trade was a 19.84 % 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, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the sale, the chief financial officer now directly owns 57,134 shares in the company, valued at approximately $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,242 shares of company stock valued at $3,630,716. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PTC

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank Pictet & Cie Europe AG increased its stake in PTC by 1.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock valued at $722,000 after acquiring an additional 55 shares during the last quarter. Wedmont Private Capital increased its stake in shares of PTC by 1.6% in the 4th quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock valued at $734,000 after purchasing an additional 64 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in shares of 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 buying an additional 66 shares in the last quarter. Allworth Financial LP lifted its position in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Finally, Metis Global Partners LLC boosted its stake in PTC by 1.1% in the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock valued at $1,202,000 after buying an additional 73 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.