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 Saturday.

Several other research analysts have also issued reports on the company. Robert W. Baird boosted their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Piper Sandler increased their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, KeyCorp boosted their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Price Performance

NASDAQ:PTC opened at $160.56 on Friday. The firm has a market capitalization of $19.32 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50 day simple moving average of $179.48 and a 200-day simple moving average of $182.95. PTC has a 1 year low of $159.56 and a 1 year high of $203.09.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Equities analysts forecast that PTC will post 4.46 EPS for the current year.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC

Several hedge funds have recently bought and sold shares of PTC. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of PTC in the fourth quarter worth about $10,724,000. Ascent Group LLC increased its stake in shares of PTC by 11.4% in the 4th quarter. Ascent Group LLC now owns 15,295 shares of the technology company’s stock valued at $2,812,000 after purchasing an additional 1,560 shares in the last quarter. Mackenzie Financial Corp raised its holdings in PTC by 11.4% in the 4th quarter. Mackenzie Financial Corp now owns 10,868 shares of the technology company’s stock worth $1,998,000 after purchasing an additional 1,109 shares during the period. Wormser Freres Gestion raised its holdings in PTC by 0.4% in the 4th quarter. Wormser Freres Gestion now owns 48,146 shares of the technology company’s stock worth $8,911,000 after purchasing an additional 168 shares during the period. Finally, Toronto Dominion Bank boosted its position in PTC by 8.4% during the fourth quarter. Toronto Dominion Bank now owns 64,257 shares of the technology company’s stock worth $11,815,000 after purchasing an additional 4,963 shares in the last quarter. Hedge funds and other institutional investors 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.