PTC (NASDAQ:PTC) Hits New 12-Month High – Time to Buy?

PTC Inc. (NASDAQ:PTC)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $199.90 and last traded at $199.90, with a volume of 30316 shares trading hands. The stock had previously closed at $197.64.

Wall Street Analyst Weigh In

PTC has been the topic of several recent research reports. Royal Bank of Canada increased their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Robert W. Baird upped 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. Piper Sandler raised their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Four equities research 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Stock Down 0.7 %

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The business’s 50-day simple moving average is $185.37 and its 200-day simple moving average is $179.58. The company has a market capitalization of $23.94 billion, a PE ratio of 64.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17.

Insider Activity at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

Several large investors have recently made changes to their positions in PTC. Advisors Asset Management Inc. raised its position in shares of PTC by 22.2% in the first quarter. Advisors Asset Management Inc. now owns 4,444 shares of the technology company’s stock worth $840,000 after acquiring an additional 807 shares during the period. California State Teachers Retirement System raised its holdings in PTC by 1.4% in the 1st quarter. California State Teachers Retirement System now owns 186,636 shares of the technology company’s stock worth $35,263,000 after purchasing an additional 2,514 shares during the period. Tidal Investments LLC boosted its position in PTC by 14.9% during the first quarter. Tidal Investments LLC now owns 12,836 shares of the technology company’s stock worth $2,425,000 after purchasing an additional 1,667 shares in the last quarter. Comerica Bank grew its holdings in PTC by 0.6% in the first quarter. Comerica Bank now owns 103,973 shares of the technology company’s stock valued at $19,645,000 after purchasing an additional 663 shares during the period. Finally, iA Global Asset Management Inc. increased its position in shares of PTC by 189.0% in the first quarter. iA Global Asset Management Inc. now owns 4,347 shares of the technology company’s stock valued at $821,000 after buying an additional 2,843 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.