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

StockNews.com cut shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other equities analysts also recently weighed in on PTC. Piper Sandler raised 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. Robert W. Baird boosted their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus increased their price target on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Citigroup cut their target price on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Trading Down 1.9 %

PTC stock opened at $160.56 on Friday. The business’s 50-day moving average is $179.48 and its 200 day moving average is $182.95. PTC has a 12-month low of $159.56 and a 12-month high of $203.09. The stock has a market cap of $19.32 billion, a price-to-earnings ratio of 49.56, a PEG 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 (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 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%. On average, sell-side analysts anticipate that PTC will post 4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of the company’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 transaction, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PTC

Hedge funds have recently bought and sold shares of the company. Bank Pictet & Cie Europe AG grew its position in PTC by 1.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock valued at $722,000 after acquiring an additional 55 shares in the last quarter. Wahed Invest LLC lifted its holdings in PTC by 2.1% during the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company’s stock worth $539,000 after buying an additional 61 shares in the last quarter. Wedmont Private Capital boosted its position in PTC by 1.6% in the 4th quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock valued at $734,000 after buying an additional 64 shares during the period. Allworth Financial LP grew its stake in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. Finally, Metis Global Partners LLC increased its position in shares of PTC by 1.1% during the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock worth $1,202,000 after acquiring an additional 73 shares during the period. Institutional investors and hedge funds 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.