PTC (NASDAQ:PTC) Cut to “Hold” at StockNews.com

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

Other equities analysts have also recently issued reports about the stock. Citigroup lowered their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Robert W. Baird upped their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and reduced their price target for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada increased their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Up 1.9 %

Shares of PTC stock opened at $171.10 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.48. PTC has a 12-month low of $163.30 and a 12-month high of $203.09. The firm has a market capitalization of $20.59 billion, a PE ratio of 52.81, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. The stock’s fifty day moving average is $186.10 and its 200-day moving average is $183.40.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Equities analysts anticipate that PTC will post 4.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kristian Talvitie sold 10,306 shares of PTC 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 transaction, the chief financial officer now owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock valued at $3,630,716 over the last quarter. Insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

Hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. boosted its position in shares of PTC by 11.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock valued at $3,174,432,000 after acquiring an additional 1,773,653 shares during the period. Vanguard Group Inc. boosted its holdings in PTC by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after purchasing an additional 240,080 shares during the period. State Street Corp grew its position in PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after purchasing an additional 133,370 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock worth $555,626,000 after purchasing an additional 67,504 shares during the period. Finally, Fernbridge Capital Management LP raised its position in shares of PTC by 6.0% during the fourth quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company’s stock valued at $278,484,000 after buying an additional 85,564 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

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.