PTC (NASDAQ:PTC) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of PTC (NASDAQ:PTC) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $204.00 target price on the technology company’s stock.

PTC has been the topic of several other research reports. Robert W. Baird boosted their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and cut their price target for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Stifel Nicolaus boosted their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.20.

PTC Trading Up 0.6 %

Shares of PTC opened at $191.07 on Tuesday. PTC has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The business has a 50-day moving average of $190.83 and a 200 day moving average of $183.58. The firm has a market cap of $23.00 billion, a P/E ratio of 61.44, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78.

Insider Activity at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the company’s 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 directly owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the sale, the executive vice president now directly owns 21,707 shares in the company, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,242 shares of company stock valued at $3,630,716. Insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

A number of institutional investors have recently modified their holdings of PTC. Fernbridge Capital Management LP raised its position in PTC by 83.7% during the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of PTC by 767.8% during the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after acquiring an additional 586,443 shares in the last quarter. D1 Capital Partners L.P. purchased a new stake in PTC in the third quarter worth $84,549,000. Massachusetts Financial Services Co. MA boosted its holdings in PTC by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after acquiring an additional 150,652 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in PTC by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after purchasing an additional 135,677 shares during the period. 95.14% of the stock is currently 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.