StockNews.com Downgrades PTC (NASDAQ:PTC) to Hold

PTC (NASDAQ:PTC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other research firms have also issued reports on PTC. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Stifel Nicolaus lifted 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. Royal Bank of Canada upped their target price on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and lowered their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and an average price target of $207.54.

PTC Stock Performance

Shares of PTC stock traded up $2.45 on Tuesday, reaching $190.93. The stock had a trading volume of 988,653 shares, compared to its average volume of 774,395. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC has a 1 year low of $163.30 and a 1 year high of $203.09. The stock has a market cap of $22.98 billion, a P/E ratio of 61.39, a price-to-earnings-growth ratio of 2.55 and a beta of 1.18. The company has a 50 day simple moving average of $191.10 and a 200 day simple moving average of $183.24.

Insider Transactions at PTC

In related news, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the sale, the chief financial officer now owns 57,134 shares in the company, valued at approximately $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction 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 approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of PTC

A number of institutional investors and hedge funds have recently made changes to their positions in PTC. US Bancorp DE grew its holdings in shares of PTC by 67.7% during the third 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 in the last quarter. Mirabella Financial Services LLP raised its holdings in PTC by 542.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after acquiring 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 approximately $84,549,000. Citigroup Inc. boosted its holdings in shares of PTC by 28.4% during the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock worth $26,971,000 after purchasing an additional 32,984 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of PTC by 33.7% in 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 in the last quarter. 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.