PTC (NASDAQ:PTC) Upgraded at StockNews.com

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other equities research analysts also recently issued reports about the company. Piper Sandler raised their target price on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday. Robert W. Baird raised their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday. Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Finally, Royal Bank of Canada lifted their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Stock Performance

Shares of NASDAQ:PTC opened at $192.83 on Friday. The company has a market cap of $23.17 billion, a P/E ratio of 62.00, a PEG ratio of 2.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.45. PTC has a one year low of $148.01 and a one year high of $199.48. The business’s 50-day simple moving average is $180.03 and its 200 day simple moving average is $178.30.

Institutional Investors Weigh In On PTC

Institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in PTC during the 1st quarter valued at approximately $215,000. Nordea Investment Management AB boosted its position in PTC by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 9,240 shares of the technology company’s stock valued at $1,748,000 after purchasing an additional 322 shares during the period. Texas Permanent School Fund Corp boosted its position in PTC by 0.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 24,720 shares of the technology company’s stock worth $4,671,000 after acquiring an additional 177 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in PTC by 2.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,768 shares of the technology company’s stock worth $712,000 after acquiring an additional 81 shares during the period. Finally, Empowered Funds LLC acquired a new position in PTC during the 1st quarter worth $268,000. 95.14% of the stock is currently owned by institutional investors.

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.