StockNews.com Upgrades PTC (NASDAQ:PTC) to “Buy”

PTC (NASDAQ:PTC) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

A number of other research firms also recently commented on PTC. KeyCorp upped their price objective on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Stifel Nicolaus increased their price target on shares of 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. lifted 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. Citigroup dropped their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Stock Performance

Shares of NASDAQ PTC opened at $161.02 on Friday. The company has a 50-day simple moving average of $176.99 and a 200-day simple moving average of $182.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $19.37 billion, a PE ratio of 49.70, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. PTC has a 12 month low of $155.53 and a 12 month high of $203.09.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. On average, equities analysts anticipate that PTC will post 4.46 earnings per share for the current year.

Institutional Investors Weigh In On PTC

Several hedge funds have recently modified their holdings of PTC. Van ECK Associates Corp grew its position in PTC by 28.5% in the third quarter. Van ECK Associates Corp now owns 2,152 shares of the technology company’s stock valued at $395,000 after acquiring an additional 477 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of PTC by 3.8% in the third quarter. Principal Financial Group Inc. now owns 149,071 shares of the technology company’s stock valued at $26,931,000 after purchasing an additional 5,403 shares during the period. Equitable Trust Co. grew its holdings in PTC by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 3,602 shares of the technology company’s stock valued at $651,000 after purchasing an additional 79 shares in the last quarter. Atria Investments Inc increased its stake in PTC by 33.8% during the 3rd quarter. Atria Investments Inc now owns 2,455 shares of the technology company’s stock worth $444,000 after buying an additional 620 shares during the period. Finally, Covestor Ltd lifted 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 buying an additional 80 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.