Citigroup Cuts PTC (NASDAQ:PTC) Price Target to $195.00

PTC (NASDAQ:PTC) had its target price lowered by Citigroup from $200.00 to $195.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. increased their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Piper Sandler increased their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus increased their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and reduced their target price for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Royal Bank of Canada increased their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.09.

PTC Stock Down 1.5 %

NASDAQ PTC opened at $169.02 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $20.34 billion, a P/E ratio of 54.35, a P/E/G ratio of 2.62 and a beta of 1.19. PTC has a one year low of $163.30 and a one year high of $203.09. The stock has a 50 day moving average price of $189.94 and a 200-day moving average price of $183.65.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.37% and a return on equity of 14.63%. As a group, equities analysts predict that PTC will post 4.62 EPS for the current fiscal year.

Insider Activity

In other PTC news, CAO Alice Christenson sold 1,703 shares of PTC 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 transaction, the chief accounting officer now owns 830 shares in the company, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corinna Lathan sold 860 shares of PTC stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the transaction, the director now owns 6,843 shares in the company, valued at $1,368,600. This trade represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,242 shares of company stock worth $3,630,716. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of large investors have recently modified their holdings of the business. Bank Pictet & Cie Europe AG grew its stake in shares of PTC by 1.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock worth $722,000 after acquiring an additional 55 shares during the last quarter. Wedmont Private Capital grew its stake in shares of PTC by 1.6% during the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock worth $734,000 after acquiring an additional 64 shares during the last quarter. IFM Investors Pty Ltd boosted its position in PTC by 0.3% in the third quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after buying an additional 66 shares during the last quarter. Allworth Financial LP boosted its position in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in PTC by 1.1% in the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock valued at $1,202,000 after buying an additional 73 shares during 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.