PTC (NASDAQ:PTC) Sets New 1-Year High – Still a Buy?

PTC Inc. (NASDAQ:PTC) hit a new 52-week high during trading on Wednesday . The stock traded as high as $197.21 and last traded at $197.21, with a volume of 16391 shares traded. The stock had previously closed at $189.99.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Robert W. Baird lifted their price objective on PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler lifted their target price on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $202.00 target price on shares of PTC in a report on Thursday, August 1st. Finally, StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $200.67.

PTC Stock Performance

The firm’s 50 day moving average is $179.01 and its 200-day moving average is $177.99. The company has a market cap of $23.68 billion, a PE ratio of 80.49, a PEG ratio of 2.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

Insider Activity

In other news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the transaction, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after buying an additional 122 shares during the period. First Horizon Advisors Inc. boosted its position in PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares during the period. Rothschild Investment LLC acquired a new position in shares of PTC during the second quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of PTC in the 2nd quarter worth approximately $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of PTC in the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.