PTC (NASDAQ:PTC) Upgraded by StockNews.com to “Buy”

PTC (NASDAQ:PTC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

PTC has been the topic of a number of other research reports. Rosenblatt Securities restated a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Friday, April 12th. Mizuho reissued a “neutral” rating and set a $190.00 target price (down from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Barclays upped their price target on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Citigroup cut their target price on shares of PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Robert W. Baird raised their target price on shares of PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.73.

PTC Price Performance

Shares of PTC stock traded up $0.57 during trading on Wednesday, hitting $177.60. 466,897 shares of the company were exchanged, compared to its average volume of 812,398. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51. PTC has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The stock has a market capitalization of $21.26 billion, a price-to-earnings ratio of 74.31, a P/E/G ratio of 3.33 and a beta of 1.18. The firm has a 50 day moving average price of $177.81 and a 200 day moving average price of $178.73.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.23. PTC had a net margin of 12.84% and a return on equity of 13.76%. The company had revenue of $603.07 million during the quarter, compared to analysts’ expectations of $575.53 million. On average, equities analysts expect that PTC will post 3.48 earnings per share for the current fiscal year.

Insider Transactions at PTC

In related news, insider Catherine Kniker sold 1,254 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now directly owns 13,598 shares in the company, valued at $2,358,573.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other PTC news, insider Catherine Kniker sold 1,254 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total value of $217,506.30. Following the transaction, the insider now directly owns 13,598 shares in the company, valued at $2,358,573.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total transaction of $712,800.00. Following the completion of the transaction, the director now owns 52,137 shares in the company, valued at $9,290,813.40. The disclosure for this sale can be found here. Insiders have sold a total of 11,846 shares of company stock valued at $2,137,631 over the last 90 days. 1.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PTC

Institutional investors and hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC lifted its position in PTC by 108.3% during the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after purchasing an additional 91 shares during the period. Riverview Trust Co bought a new stake in PTC during the first quarter worth about $34,000. Resources Management Corp CT ADV lifted its position in PTC by 4,285.7% during the third quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after purchasing an additional 300 shares during the period. Principal Securities Inc. bought a new stake in PTC during the fourth quarter worth about $46,000. Finally, Van ECK Associates Corp lifted its holdings in shares of PTC by 26.0% in the fourth quarter. Van ECK Associates Corp now owns 523 shares of the technology company’s stock worth $92,000 after acquiring an additional 108 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.