PTC (NASDAQ:PTC) Earns Buy Rating from Rosenblatt Securities

PTC (NASDAQ:PTC)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a note issued to investors on Tuesday,Benzinga reports. They currently have a $204.00 price objective on the technology company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 7.50% from the company’s previous close.

PTC has been the topic of several other reports. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and dropped their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler lifted their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Robert W. Baird upped their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $210.00.

PTC Price Performance

NASDAQ PTC opened at $189.76 on Tuesday. PTC has a 1 year low of $163.30 and a 1 year high of $203.09. The business’s fifty day moving average is $190.67 and its two-hundred day moving average is $183.69. The stock has a market capitalization of $22.84 billion, a P/E ratio of 61.02, a P/E/G ratio of 2.62 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78.

PTC (NASDAQ:PTC) last announced its 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 return on equity of 14.63% and a net margin of 16.37%. On average, research analysts forecast that PTC will post 4.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the transaction, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a 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 dated 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 owns 830 shares of the company’s stock, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock valued at $3,630,716 in the last three months. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On PTC

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTC. Covestor Ltd raised its position in shares of PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 80 shares during the period. Allworth Financial LP raised its holdings in PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the period. Brooklyn Investment Group acquired a new position in PTC during the 3rd quarter worth $66,000. Park Place Capital Corp bought a new stake in PTC during the third quarter valued at about $67,000. Finally, Smartleaf Asset Management LLC grew its position in shares of PTC by 83.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after purchasing an additional 205 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.