PTC Inc. (NASDAQ:PTC) Given Average Recommendation of “Moderate Buy” by Brokerages

PTC Inc. (NASDAQ:PTC) has been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $207.54.

Several brokerages recently issued reports on PTC. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and decreased their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler boosted their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

PTC Price Performance

Shares of PTC opened at $187.79 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50 day simple moving average of $191.52 and a 200 day simple moving average of $182.97. PTC has a 52-week low of $163.30 and a 52-week high of $203.09. The firm has a market capitalization of $22.60 billion, a PE ratio of 60.38, a P/E/G ratio of 2.47 and a beta of 1.18.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kristian Talvitie sold 10,306 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the transaction, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,242 shares of company stock valued at $3,630,716. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE grew its holdings in PTC by 67.7% in the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after buying an additional 5,717 shares in the last quarter. Mirabella Financial Services LLP grew its holdings in shares of PTC by 542.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after purchasing an additional 17,465 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of PTC during the 3rd quarter worth $84,549,000. Citigroup Inc. grew its holdings in shares of PTC by 28.4% during the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock worth $26,971,000 after purchasing an additional 32,984 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of PTC by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after purchasing an additional 135,677 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

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.