Citigroup Lowers PTC (NASDAQ:PTC) Price Target to $195.00

PTC (NASDAQ:PTC) had its price target lowered by analysts at Citigroup from $200.00 to $195.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup’s price target points to a potential upside of 2.06% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Piper Sandler increased their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and cut their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Royal Bank of Canada raised their price objective on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $204.00 price target on shares of PTC in a report on Tuesday. Finally, Stifel Nicolaus raised their price objective 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. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.00.

PTC Price Performance

Shares of PTC stock opened at $191.07 on Wednesday. PTC has a one year low of $163.30 and a one year high of $203.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $23.00 billion, a P/E ratio of 61.44, a P/E/G ratio of 2.62 and a beta of 1.19. The stock’s fifty day moving average is $190.83 and its 200 day moving average is $183.58.

Insiders Place Their Bets

In other news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,242 shares of company stock valued at $3,630,716. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC

A number of large investors have recently made changes to their positions in PTC. Fernbridge Capital Management LP lifted its position in PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares during the period. Congress Asset Management Co. lifted its position in PTC by 767.8% during the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after purchasing an additional 586,443 shares during the period. D1 Capital Partners L.P. acquired a new position in PTC during the third quarter valued at $84,549,000. Massachusetts Financial Services Co. MA lifted its position in PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after purchasing an additional 150,652 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after purchasing an additional 135,677 shares during the period. 95.14% of the stock is 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.