PTC (NASDAQ:PTC) Upgraded at StockNews.com

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a research report report published on Wednesday.

PTC has been the topic of several other reports. Stifel Nicolaus lifted their price target on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler lifted their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird lifted their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, Citigroup cut their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.09.

PTC Trading Down 1.5 %

Shares of PTC opened at $169.02 on Wednesday. The firm’s 50 day simple moving average is $189.94 and its 200 day simple moving average is $183.65. The company has a market capitalization of $20.34 billion, a P/E ratio of 54.35, a P/E/G ratio of 2.62 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. PTC has a 1-year low of $163.30 and a 1-year high of $203.09.

PTC (NASDAQ:PTC) last posted its quarterly 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 14.63% and a net margin of 16.37%. Sell-side analysts forecast that PTC will post 4.62 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the transaction, the executive vice president now owns 21,707 shares of the company’s stock, valued at $4,344,221.91. The trade was a 19.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. This represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,242 shares of company stock worth $3,630,716. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

Several large investors have recently modified their holdings of PTC. US Bancorp DE raised its position in PTC by 67.7% in the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after buying an additional 5,717 shares during the last quarter. Mirabella Financial Services LLP raised its position in PTC by 542.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after buying an additional 17,465 shares during the last quarter. D1 Capital Partners L.P. purchased a new position in PTC in the 3rd quarter worth about $84,549,000. Citigroup Inc. raised its position in PTC by 28.4% in the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock worth $26,971,000 after buying an additional 32,984 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in PTC by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after buying an additional 135,677 shares during the last quarter. Hedge funds and other 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.