PTC (NASDAQ:PTC) Upgraded to Buy by 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 Thursday morning.

PTC has been the subject of several other research reports. KeyCorp boosted their price target on PTC from $190.00 to $205.00 and gave the company an overweight rating in a research note on Thursday, February 1st. Royal Bank of Canada reaffirmed an outperform rating and set a $202.00 target price on shares of PTC in a research report on Thursday, February 1st. Rosenblatt Securities reaffirmed a buy rating and set a $195.00 target price on shares of PTC in a research report on Friday, April 12th. Robert W. Baird reaffirmed an outperform rating and set a $210.00 target price on shares of PTC in a research report on Tuesday, April 2nd. Finally, Piper Sandler upped their target price on PTC from $155.00 to $177.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $196.73.

PTC Trading Down 1.0 %

Shares of NASDAQ PTC opened at $175.70 on Thursday. The stock has a market cap of $21.00 billion, a price-to-earnings ratio of 89.19, a PEG ratio of 3.17 and a beta of 1.17. The business has a 50 day simple moving average of $183.62 and a 200 day simple moving average of $168.40. PTC has a 52 week low of $120.62 and a 52 week high of $194.24. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.19 and a current ratio of 1.19.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. The business had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. On average, research analysts predict that PTC will post 3.47 earnings per share for the current fiscal year.

Insider Transactions at PTC

In other news, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares in the company, valued at $171,631,594.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares in the company, valued at $2,489,835.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The disclosure for this sale can be found here. Insiders sold a total of 36,415 shares of company stock worth $6,457,478 over the last three months. 1.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Coldstream Capital Management Inc. grew its position in PTC by 2.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,615 shares of the technology company’s stock valued at $458,000 after acquiring an additional 55 shares during the period. CWM LLC grew its position in PTC by 6.9% in the third quarter. CWM LLC now owns 1,155 shares of the technology company’s stock valued at $164,000 after acquiring an additional 75 shares during the period. US Bancorp DE grew its position in PTC by 0.8% in the fourth quarter. US Bancorp DE now owns 9,931 shares of the technology company’s stock valued at $1,738,000 after acquiring an additional 77 shares during the period. First Trust Direct Indexing L.P. grew its position in PTC by 4.7% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,797 shares of the technology company’s stock valued at $314,000 after acquiring an additional 81 shares during the period. Finally, Stephens Inc. AR grew its position in PTC by 25.7% in the first quarter. Stephens Inc. AR now owns 401 shares of the technology company’s stock valued at $51,000 after acquiring an additional 82 shares during the period. 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.