PTC (NASDAQ:PTC) Upgraded at StockNews.com

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

Other equities analysts also recently issued research reports about the company. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and cut their target price for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. KeyCorp boosted their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Piper Sandler upped their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Robert W. Baird upped their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Performance

Shares of PTC opened at $161.65 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a 50 day moving average price of $182.89 and a two-hundred day moving average price of $183.14. The firm has a market capitalization of $19.45 billion, a P/E ratio of 49.89, a P/E/G ratio of 2.27 and a beta of 1.19. PTC has a 52 week low of $161.02 and a 52 week high of $203.09.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Equities analysts forecast that PTC will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the sale, the executive vice president now directly 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 is accessible through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares of the company’s stock, valued at $1,368,600. This trade represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,539 shares of company stock worth $3,301,697 over the last three months. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of institutional investors and hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. boosted its holdings in 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 worth $3,174,432,000 after purchasing an additional 1,773,653 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in PTC in the fourth quarter worth approximately $146,712,000. Norges Bank purchased a new position in shares of PTC during the 4th quarter worth $128,852,000. Fernbridge Capital Management LP boosted its stake in shares of PTC by 83.7% during the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after acquiring an additional 650,990 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of PTC by 767.8% during the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after acquiring an additional 586,443 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.