PTC’s (PTC) “Buy” Rating Reaffirmed at Rosenblatt Securities

PTC (NASDAQ:PTC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Rosenblatt Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $204.00 price objective on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 7.44% from the company’s previous close.

A number of other research firms also recently commented on PTC. Stifel Nicolaus boosted their price objective on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. upped 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 lowered shares of PTC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler boosted their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised their target price on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, PTC currently has an average rating of “Moderate Buy” and an average target price of $209.20.

PTC Trading Down 1.9 %

PTC stock opened at $189.88 on Tuesday. PTC has a 12-month low of $163.30 and a 12-month high of $203.09. The stock has a market capitalization of $22.85 billion, a PE ratio of 61.05, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19. The firm has a 50 day simple moving average of $191.05 and a 200-day simple moving average of $183.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78.

Insider Buying and Selling at PTC

In related news, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Alice Christenson sold 1,703 shares of the company’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 value of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock valued at $3,630,716 in the last three months. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of PTC

A number of institutional investors and hedge funds have recently modified their holdings of PTC. Covestor Ltd raised its holdings in PTC by 70.8% in the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 80 shares during the period. Allworth Financial LP increased 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 purchasing an additional 69 shares during the period. Brooklyn Investment Group acquired a new position in shares of PTC during the 3rd quarter worth about $66,000. Park Place Capital Corp bought a new stake in PTC during the 3rd quarter valued at approximately $67,000. Finally, Blue Trust Inc. grew its holdings in PTC by 473.9% in the 3rd quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after buying an additional 654 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.