Mizuho Lowers PTC (NASDAQ:PTC) Price Target to $200.00

PTC (NASDAQ:PTC) had its price objective lowered by Mizuho from $210.00 to $200.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also weighed in on PTC. KeyCorp lifted their price objective on PTC from $190.00 to $205.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Oppenheimer raised their target price on shares of PTC from $190.00 to $210.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Piper Sandler boosted their price target on shares of PTC from $155.00 to $177.00 and gave the company a neutral rating in a research report on Tuesday, January 9th. JPMorgan Chase & Co. raised PTC from a neutral rating to an overweight rating and increased their target price for the stock from $130.00 to $200.00 in a research report on Thursday, January 4th. Finally, Royal Bank of Canada restated an outperform rating and set a $202.00 target price on shares of PTC in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $200.64.

PTC Stock Up 3.0 %

PTC opened at $175.77 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68. PTC has a 12 month low of $124.42 and a 12 month high of $194.24. The business’s 50-day moving average price is $183.30 and its 200-day moving average price is $171.54. The company has a market cap of $21.01 billion, a P/E ratio of 73.54, a P/E/G ratio of 3.14 and a beta of 1.19.

Insider Activity

In other news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the sale, the insider now owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of hedge funds have recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. lifted its holdings in PTC by 2.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,615 shares of the technology company’s stock valued at $458,000 after acquiring an additional 55 shares during the period. Fifth Third Bancorp grew its stake in shares of PTC by 3.1% during the 1st quarter. Fifth Third Bancorp now owns 2,165 shares of the technology company’s stock valued at $409,000 after purchasing an additional 65 shares during the period. Fidelis Capital Partners LLC increased its position in shares of PTC by 5.4% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $275,000 after purchasing an additional 74 shares during the last quarter. US Bancorp DE lifted its stake in shares of PTC by 0.8% in the 4th quarter. US Bancorp DE now owns 9,931 shares of the technology company’s stock worth $1,738,000 after purchasing an additional 77 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of PTC by 4.7% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,797 shares of the technology company’s stock worth $314,000 after buying an additional 81 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other 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.