PTC (NASDAQ:PTC) Stock Rating Lowered by StockNews.com

PTC (NASDAQ:PTC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

PTC has been the topic of a number of other research reports. Stifel Nicolaus boosted their target price on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and lowered their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Robert W. Baird increased 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. Piper Sandler boosted their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $207.54.

PTC Trading Down 1.0 %

PTC opened at $189.08 on Tuesday. The company’s 50 day moving average is $191.14 and its 200-day moving average is $183.30. The company has a market cap of $22.76 billion, a P/E ratio of 60.80, a PEG ratio of 2.55 and a beta of 1.18. PTC has a 1-year low of $163.30 and a 1-year high of $203.09. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now owns 21,707 shares in the company, valued at $4,344,221.91. The trade was a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kristian Talvitie sold 10,306 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were 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 owns 57,134 shares in the company, valued at $11,389,091.56. The trade was a 15.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,242 shares of company stock valued at $3,630,716. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC

Several hedge funds and other institutional investors have recently bought and sold shares of PTC. Fernbridge Capital Management LP raised its position in shares of PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after purchasing an additional 650,990 shares during the period. Congress Asset Management Co. raised its holdings in PTC by 767.8% during the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after buying an additional 586,443 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of PTC in the third quarter valued at $84,549,000. Massachusetts Financial Services Co. MA grew its holdings in shares of PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after buying an additional 150,652 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after acquiring an additional 135,677 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

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.