PTC (NASDAQ:PTC) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of PTC (NASDAQ:PTC) in a report released on Thursday morning, Benzinga reports. They currently have a $202.00 target price on the technology company’s stock.

Several other brokerages have also commented on PTC. StockNews.com upgraded shares of PTC from a hold rating to a buy rating in a report on Wednesday, June 26th. Rosenblatt Securities increased their price objective on shares of PTC from $190.00 to $195.00 and gave the company a buy rating in a research report on Thursday. Mizuho reissued a neutral rating and set a $190.00 price objective (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Citigroup dropped their price target on shares of PTC from $195.00 to $187.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Finally, Barclays increased their price objective on shares of PTC from $198.00 to $215.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $200.18.

PTC Trading Down 3.3 %

NASDAQ:PTC traded down $5.69 during midday trading on Thursday, reaching $166.36. 317,986 shares of the stock traded hands, compared to its average volume of 835,115. The company has a fifty day moving average of $177.54 and a 200 day moving average of $180.31. PTC has a 12 month low of $134.61 and a 12 month high of $194.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $19.91 billion, a P/E ratio of 71.99, a PEG ratio of 3.30 and a beta of 1.18.

Insider Buying and Selling at PTC

In related news, insider Catherine Kniker sold 1,254 shares of the firm’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 completion of the transaction, the insider now directly owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other PTC news, insider Catherine Kniker sold 1,254 shares of PTC 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 completion of the transaction, the insider now directly owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction on Friday, July 12th. The stock was sold at an average price of $179.33, for a total transaction of $717,320.00. Following the transaction, the director now directly owns 48,137 shares of the company’s stock, valued at $8,632,408.21. The disclosure for this sale can be found here. Insiders sold a total of 15,846 shares of company stock valued at $2,854,951 in the last three months. 1.17% of the stock is currently owned by corporate insiders.

Institutional Trading of PTC

Institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares in the last quarter. Blue Trust Inc. lifted its holdings in PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Rothschild Investment LLC acquired a new position in PTC in the second quarter valued at approximately $29,000. International Assets Investment Management LLC acquired a new position in shares of PTC during the 2nd quarter worth approximately $30,000. Finally, Lindbrook Capital LLC raised its stake in shares of PTC by 108.3% during the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after buying an additional 91 shares during the period. 95.14% of the stock is currently owned by 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.