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

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

Several other equities analysts have also recently commented on PTC. Rosenblatt Securities boosted their target price on shares of PTC from $190.00 to $195.00 and gave the company a buy rating in a research report on Thursday, August 1st. Citigroup lowered their price objective on shares of PTC from $195.00 to $187.00 and set a neutral rating for the company in a research report on Thursday, May 2nd. Piper Sandler raised their target price on PTC from $177.00 to $182.00 and gave the company a neutral rating in a report on Thursday, August 1st. Barclays lifted their price target on PTC from $198.00 to $215.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada restated an outperform rating and set a $202.00 price objective on shares of PTC in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $200.18.

PTC Price Performance

Shares of PTC traded up $0.92 during trading hours on Monday, hitting $169.10. 1,023,490 shares of the company were exchanged, compared to its average volume of 846,484. The company has a market cap of $20.24 billion, a price-to-earnings ratio of 70.75, a P/E/G ratio of 3.30 and a beta of 1.18. The firm’s fifty day moving average is $177.24 and its 200 day moving average is $180.27. PTC has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60.

Insider Transactions at PTC

In related news, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the completion of the transaction, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at approximately $9,734,056.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the transaction, the director now owns 48,137 shares in the company, valued at approximately $8,632,408.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Ditullio sold 6,592 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the sale, the chief operating officer now owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,846 shares of company stock worth $2,854,951. Company insiders own 1.17% of the company’s stock.

Institutional Trading of PTC

A number of institutional investors have recently bought and sold shares of PTC. Vanguard Group Inc. increased its stake in shares of PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after acquiring an additional 205,673 shares in the last quarter. Wellington Management Group LLP increased its stake in PTC by 1,409.3% in the fourth quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after purchasing an additional 1,569,081 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of PTC by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 1,192,272 shares of the technology company’s stock valued at $208,600,000 after purchasing an additional 13,468 shares during the period. Impax Asset Management Group plc boosted its position in shares of PTC by 4.4% during the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock worth $206,091,000 after purchasing an additional 48,553 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of PTC by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,066,671 shares of the technology company’s stock worth $201,537,000 after purchasing an additional 166,112 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

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.