PTC (NASDAQ:PTC) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a report released on Friday morning.

PTC has been the topic of several other research reports. Piper Sandler lifted their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Robert W. Baird boosted their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their price objective on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.09.

PTC Price Performance

PTC stock opened at $161.65 on Friday. The stock has a 50-day moving average price of $183.63 and a two-hundred day moving average price of $183.18. The company has a market cap of $19.45 billion, a PE ratio of 49.89, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC has a 12-month low of $161.02 and a 12-month high of $203.09.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, research analysts predict that PTC will post 4.46 EPS for the current year.

Insider Buying and Selling at PTC

In related news, CFO Kristian Talvitie sold 10,306 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the sale, the chief financial officer now owns 57,134 shares of the company’s stock, valued at $11,389,091.56. This represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now directly owns 6,843 shares in the company, valued at approximately $1,368,600. The trade was a 11.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,539 shares of company stock worth $3,301,697. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PTC. Ascent Group LLC raised its stake in shares of PTC by 11.4% in the 4th quarter. Ascent Group LLC now owns 15,295 shares of the technology company’s stock worth $2,812,000 after buying an additional 1,560 shares in the last quarter. Mackenzie Financial Corp grew its holdings in PTC by 11.4% during the fourth quarter. Mackenzie Financial Corp now owns 10,868 shares of the technology company’s stock worth $1,998,000 after acquiring an additional 1,109 shares during the period. Wormser Freres Gestion raised its position in PTC by 0.4% in the fourth quarter. Wormser Freres Gestion now owns 48,146 shares of the technology company’s stock worth $8,911,000 after acquiring an additional 168 shares in the last quarter. Toronto Dominion Bank lifted its holdings in PTC by 8.4% in the 4th quarter. Toronto Dominion Bank now owns 64,257 shares of the technology company’s stock valued at $11,815,000 after acquiring an additional 4,963 shares during the last quarter. Finally, North Star Asset Management Inc. boosted its position in shares of PTC by 0.6% during the 4th quarter. North Star Asset Management Inc. now owns 145,274 shares of the technology company’s stock valued at $26,712,000 after purchasing an additional 859 shares in the last quarter. 95.14% of the stock is currently owned by 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.