PTC (NASDAQ:PTC) Shares Gap Down Following Analyst Downgrade

PTC Inc. (NASDAQ:PTC)’s share price gapped down before the market opened on Thursday after Citigroup lowered their price target on the stock from $195.00 to $187.00. The stock had previously closed at $174.96, but opened at $166.61. Citigroup currently has a neutral rating on the stock. PTC shares last traded at $174.00, with a volume of 332,354 shares changing hands.

Other analysts have also recently issued reports about the company. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Piper Sandler upped their price objective on shares of PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. BMO Capital Markets boosted their price target on shares of PTC from $195.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. KeyCorp raised their price objective on shares of PTC from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. upgraded PTC from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $130.00 to $200.00 in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.64.

Insiders Place Their Bets

In other news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now directly owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other PTC news, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 968,357 shares in the company, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PTC. Mutual of America Capital Management LLC lifted its position in PTC by 1.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 26,607 shares of the technology company’s stock worth $5,027,000 after acquiring an additional 261 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of PTC by 0.9% in the first quarter. Daiwa Securities Group Inc. now owns 28,013 shares of the technology company’s stock worth $5,293,000 after purchasing an additional 243 shares during the period. Nordea Investment Management AB lifted its position in shares of PTC by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 9,240 shares of the technology company’s stock worth $1,748,000 after purchasing an additional 322 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in PTC by 5.4% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $275,000 after purchasing an additional 74 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in PTC by 14.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,658 shares of the technology company’s stock valued at $691,000 after buying an additional 459 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Price Performance

The stock has a market cap of $21.01 billion, a price-to-earnings ratio of 89.22, a price-to-earnings-growth ratio of 3.12 and a beta of 1.19. The stock has a fifty day simple moving average of $183.30 and a 200-day simple moving average of $171.18. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $550.21 million for the quarter, compared to analyst estimates of $538.59 million. PTC had a net margin of 12.84% and a return on equity of 14.08%. As a group, equities research analysts expect that PTC Inc. will post 3.47 EPS for the current year.

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.