PTC (NASDAQ:PTC) Sets New 1-Year High – What’s Next?

PTC Inc. (NASDAQ:PTC)’s stock price reached a new 52-week high on Monday . The company traded as high as $199.90 and last traded at $199.90, with a volume of 30316 shares trading hands. The stock had previously closed at $197.64.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PTC shares. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and decreased their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Robert W. Baird lifted their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, PTC has an average rating of “Moderate Buy” and an average price target of $204.83.

PTC Stock Up 1.2 %

The business has a 50-day moving average of $184.36 and a 200 day moving average of $179.29. The company has a market capitalization of $24.03 billion, a PE ratio of 63.55, a P/E/G ratio of 2.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78.

Insider Activity

In related news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. First Horizon Advisors Inc. lifted its stake in shares of 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. Blue Trust Inc. boosted its stake in shares of PTC by 762.5% during 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 period. Rothschild Investment LLC bought a new position in shares of PTC in the second quarter worth about $29,000. International Assets Investment Management LLC purchased a new position in PTC in the 2nd quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new stake in PTC during the 2nd quarter valued at about $31,000. 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.