PTC (NASDAQ:PTC) Hits New 1-Year High – Here’s Why

PTC Inc. (NASDAQ:PTC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $202.78 and last traded at $201.96, with a volume of 226296 shares trading hands. The stock had previously closed at $200.20.

Analyst Ratings Changes

PTC has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Robert W. Baird boosted their target price on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada increased their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.67.

PTC Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $24.14 billion, a P/E ratio of 64.59, a PEG ratio of 2.71 and a beta of 1.16. The stock has a 50-day simple moving average of $188.50 and a 200-day simple moving average of $180.47.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 860 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares in the company, valued at approximately $1,368,600. This trade represents a 11.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,869 shares of company stock worth $2,555,418. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of institutional investors have recently modified their holdings of the stock. Oddo BHF Asset Management Sas purchased a new position in shares of PTC in the 3rd quarter worth $3,113,000. Franklin Resources Inc. lifted its holdings in PTC by 2.9% during the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after purchasing an additional 30,525 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in PTC by 48.7% during the third quarter. Sanctuary Advisors LLC now owns 4,265 shares of the technology company’s stock valued at $843,000 after acquiring an additional 1,397 shares during the period. Toronto Dominion Bank grew its stake in PTC by 46.1% during the third quarter. Toronto Dominion Bank now owns 59,294 shares of the technology company’s stock valued at $10,712,000 after acquiring an additional 18,713 shares in the last quarter. Finally, TT International Asset Management LTD bought a new stake in shares of PTC in the third quarter worth about $1,143,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.