PTC (NASDAQ:PTC) Downgraded by StockNews.com to Hold

PTC (NASDAQ:PTC) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other research firms have also weighed in on PTC. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and cut their price objective for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their price target on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Piper Sandler raised their price objective on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus raised their price target on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $207.54.

PTC Trading Up 1.3 %

NASDAQ:PTC traded up $2.45 during trading hours on Tuesday, reaching $190.93. 988,653 shares of the stock were exchanged, compared to its average volume of 774,395. PTC has a twelve month low of $163.30 and a twelve month high of $203.09. The business has a 50-day moving average of $191.10 and a two-hundred day moving average of $183.24. The company has a market capitalization of $22.98 billion, a price-to-earnings ratio of 61.39, a PEG ratio of 2.55 and a beta of 1.18. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the sale, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. This represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 in the last 90 days. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC

Several institutional investors and hedge funds have recently made changes to their positions in PTC. Covestor Ltd lifted its position in shares of PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 80 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of PTC during the third quarter worth about $66,000. Park Place Capital Corp acquired a new position in shares of PTC in the third quarter valued at approximately $67,000. Blue Trust Inc. boosted its position in PTC by 473.9% during the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after acquiring an additional 654 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in PTC in the 3rd quarter worth approximately $152,000. 95.14% of the stock is currently owned by hedge funds and other 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.