PTC (NASDAQ:PTC) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reissued an outperform rating and set a $202.00 price target on shares of PTC in a report on Thursday, February 1st. Robert W. Baird reaffirmed an outperform rating and issued a $210.00 target price on shares of PTC in a report on Tuesday, April 2nd. KeyCorp increased their target price on shares of PTC from $190.00 to $205.00 and gave the company an overweight rating in a report on Thursday, February 1st. Barclays increased their target price on shares of PTC from $198.00 to $215.00 and gave the company an overweight rating in a report on Thursday, April 11th. Finally, Rosenblatt Securities reaffirmed a buy rating and issued a $195.00 target price on shares of PTC in a report on Friday, April 12th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $196.73.

PTC Trading Down 1.0 %

NASDAQ PTC opened at $175.70 on Thursday. The stock has a market capitalization of $21.00 billion, a P/E ratio of 89.19, a P/E/G ratio of 3.17 and a beta of 1.17. PTC has a 52-week low of $120.62 and a 52-week high of $194.24. The firm has a 50-day moving average price of $183.62 and a 200 day moving average price of $168.40. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. The firm had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. PTC had a net margin of 10.86% and a return on equity of 12.87%. Equities research analysts expect that PTC will post 3.47 EPS for the current year.

Insider Activity

In related news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the sale, the chief executive officer now owns 968,357 shares in the company, valued at $171,631,594.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James E. Heppelmann sold 35,000 shares of PTC stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the transaction, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. Insiders have sold 36,415 shares of company stock worth $6,457,478 over the last ninety days. 1.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. State of Michigan Retirement System raised its holdings in PTC by 0.6% in the first quarter. State of Michigan Retirement System now owns 32,754 shares of the technology company’s stock valued at $6,189,000 after buying an additional 200 shares during the period. Congress Wealth Management LLC DE raised its holdings in PTC by 5.2% in the first quarter. Congress Wealth Management LLC DE now owns 17,487 shares of the technology company’s stock valued at $3,304,000 after buying an additional 864 shares during the period. MorganRosel Wealth Management LLC purchased a new position in PTC in the first quarter valued at approximately $617,000. SteelPeak Wealth LLC raised its holdings in PTC by 13.2% in the first quarter. SteelPeak Wealth LLC now owns 3,878 shares of the technology company’s stock valued at $733,000 after buying an additional 451 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in PTC by 61.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,658 shares of the technology company’s stock valued at $1,069,000 after buying an additional 2,144 shares during the period. 95.14% of the stock is owned by hedge funds and other 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.