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

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

Other equities analysts have also issued research reports about the stock. Barclays boosted their target price on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Robert W. Baird upped their target price on shares of PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Mizuho reiterated a “neutral” rating and issued a $190.00 price objective (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Citigroup decreased their price target on shares of PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price objective on shares of PTC in a report on Friday, April 12th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and an average target price of $199.73.

PTC Price Performance

Shares of NASDAQ PTC traded up $0.57 during midday trading on Wednesday, reaching $177.60. The company’s stock had a trading volume of 466,897 shares, compared to its average volume of 812,398. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.76 and a current ratio of 0.76. PTC has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The business’s 50 day moving average price is $177.81 and its two-hundred day moving average price is $178.73. The company has a market cap of $21.26 billion, a P/E ratio of 74.31, a P/E/G ratio of 3.33 and a beta of 1.18.

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 analysts’ consensus estimates of $0.87 by $0.23. The business had revenue of $603.07 million for the quarter, compared to analysts’ expectations of $575.53 million. PTC had a net margin of 12.84% and a return on equity of 13.76%. On average, analysts forecast that PTC will post 3.48 EPS for the current fiscal year.

Insider Transactions at PTC

In other PTC news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total transaction of $712,800.00. Following the transaction, the director now owns 52,137 shares of the company’s stock, valued at approximately $9,290,813.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Catherine Kniker sold 1,254 shares of PTC stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 13,598 shares of the company’s stock, valued at approximately $2,358,573.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total transaction of $712,800.00. Following the completion of the sale, the director now directly owns 52,137 shares of the company’s stock, valued at approximately $9,290,813.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,846 shares of company stock worth $2,137,631. 1.17% of the stock is currently owned by insiders.

Institutional Trading of PTC

A number of large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its holdings in shares of PTC by 25.2% during the fourth quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock worth $4,426,000 after purchasing an additional 5,100 shares during the period. Portfolio Design Labs LLC purchased a new position in PTC in the fourth quarter valued at approximately $4,316,000. Norges Bank purchased a new stake in shares of PTC during the fourth quarter valued at approximately $114,043,000. USA Financial Formulas bought a new stake in shares of PTC in the fourth quarter worth $1,355,000. Finally, Silverberg Bernstein Capital Management LLC acquired a new position in PTC in the fourth quarter worth $9,647,000. 95.14% of the stock is currently 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.