BMO Capital Markets Cuts PTC (NASDAQ:PTC) Price Target to $183.00

PTC (NASDAQ:PTC) had its price target reduced by BMO Capital Markets from $220.00 to $183.00 in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have an outperform rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. Rosenblatt Securities restated a “buy” rating and issued a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Mizuho lowered their target price on shares of PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating and set a $160.00 price target (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Finally, Citigroup lowered their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.67.

PTC Price Performance

Shares of NASDAQ PTC opened at $143.56 on Wednesday. PTC has a twelve month low of $133.38 and a twelve month high of $203.09. The company has a market capitalization of $17.27 billion, a PE ratio of 44.31, a PEG ratio of 2.27 and a beta of 1.17. The stock’s 50 day moving average price is $156.63 and its 200-day moving average price is $177.37. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC) last posted its quarterly earnings results 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%. On average, equities analysts anticipate that PTC will post 4.46 EPS for the current year.

Insider Activity at PTC

In other PTC news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

Several hedge funds and other institutional investors have recently modified their holdings of the company. Stifel Financial Corp raised its stake in PTC by 18.7% in the third quarter. Stifel Financial Corp now owns 9,449 shares of the technology company’s stock worth $1,707,000 after buying an additional 1,487 shares in the last quarter. MML Investors Services LLC raised its position in PTC by 67.0% in the 3rd quarter. MML Investors Services LLC now owns 3,181 shares of the technology company’s stock worth $575,000 after buying an additional 1,276 shares during the last quarter. Sanctuary Advisors LLC grew its position in PTC by 48.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,265 shares of the technology company’s stock worth $843,000 after purchasing an additional 1,397 shares during the period. Franklin Resources Inc. lifted its holdings in PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after acquiring an additional 30,525 shares during the period. Finally, Oddo BHF Asset Management Sas bought a new stake in PTC during the third quarter valued at approximately $3,113,000. 95.14% of the stock is owned by 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.