PTC (NASDAQ:PTC) Rating Lowered to Hold at StockNews.com

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

A number of other research firms have also weighed in on PTC. JPMorgan Chase & Co. raised their price target on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and lowered their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler boosted their price target on 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 raised their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and an average price target of $207.54.

PTC Stock Up 1.3 %

NASDAQ PTC opened at $190.93 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The business has a 50 day moving average price of $191.10 and a two-hundred day moving average price of $183.24. The stock has a market cap of $22.98 billion, a PE ratio of 61.39, a P/E/G ratio of 2.55 and a beta of 1.18.

Insider Buying and Selling at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares in the company, valued at $160,356. The trade was a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $1,075,298.49. Following the transaction, the executive vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock worth $3,630,716 over the last 90 days. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

Several hedge funds and other institutional investors have recently modified their holdings of the company. Public Sector Pension Investment Board grew its holdings in PTC by 80.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 4,674 shares of the technology company’s stock worth $849,000 after buying an additional 2,087 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of PTC in the second quarter worth $2,185,000. Creative Planning increased its holdings in shares of PTC by 20.5% during the second quarter. Creative Planning now owns 5,185 shares of the technology company’s stock valued at $942,000 after purchasing an additional 882 shares during the period. NewEdge Advisors LLC raised its stake in shares of PTC by 1,633.3% during the second quarter. NewEdge Advisors LLC now owns 8,736 shares of the technology company’s stock valued at $1,587,000 after purchasing an additional 8,232 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in PTC by 388.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 46,593 shares of the technology company’s stock worth $8,464,000 after purchasing an additional 37,045 shares during the period. Institutional investors and hedge funds 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.