StockNews.com Upgrades PTC (NASDAQ:PTC) to “Buy”

PTC (NASDAQ:PTC) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other research analysts also recently issued reports about the company. Piper Sandler lifted their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their target price on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Berenberg Bank downgraded shares of 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 increased their target price on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Price Performance

NASDAQ PTC opened at $171.61 on Wednesday. PTC has a 1 year low of $163.30 and a 1 year high of $203.09. The company has a fifty day simple moving average of $190.48 and a 200 day simple moving average of $183.73. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The company has a market cap of $20.65 billion, a P/E ratio of 55.18, a P/E/G ratio of 2.62 and a beta of 1.19.

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

Insider Buying and Selling at PTC

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was 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 approximately $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the completion of the sale, the chief financial officer now owns 57,134 shares in the company, valued at approximately $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,242 shares of company stock valued at $3,630,716. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of PTC

Hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its position in shares of PTC by 67.7% during the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after buying an additional 5,717 shares during the period. Mirabella Financial Services LLP boosted its position in PTC by 542.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after acquiring an additional 17,465 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of PTC during the 3rd quarter worth approximately $84,549,000. Citigroup Inc. grew its stake in shares of PTC by 28.4% during the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock worth $26,971,000 after acquiring an additional 32,984 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of PTC by 33.7% in the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after purchasing an additional 135,677 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.