PTC (NASDAQ:PTC) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a research note released on Wednesday.

Several other equities research analysts have also recently issued reports on PTC. Rosenblatt Securities reiterated a buy rating and issued a $195.00 price objective on shares of PTC in a report on Friday, April 12th. Citigroup lowered their target price on PTC from $195.00 to $187.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Mizuho restated a neutral rating and set a $190.00 target price (down from $200.00) on shares of PTC in a report on Tuesday, June 4th. Barclays boosted their target price on PTC from $198.00 to $215.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Finally, Robert W. Baird boosted their target price on PTC from $210.00 to $216.00 and gave the stock an outperform rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $199.73.

PTC Price Performance

Shares of PTC stock opened at $177.60 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51. PTC has a twelve month low of $134.61 and a twelve month high of $194.24. The business has a 50-day moving average price of $177.81 and a 200 day moving average price of $178.73. The firm has a market cap of $21.26 billion, a PE ratio of 74.31, a P/E/G ratio of 3.33 and a beta of 1.18.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.23. PTC had a return on equity of 13.76% and a net margin of 12.84%. The company had revenue of $603.07 million for the quarter, compared to analysts’ expectations of $575.53 million. Sell-side analysts predict that PTC will post 3.48 earnings per share for the current fiscal year.

Insider Activity at PTC

In other PTC news, insider Catherine Kniker sold 1,254 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.45, for a total value of $217,506.30. Following the sale, the insider now owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PTC news, insider Catherine Kniker sold 1,254 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.45, for a total value of $217,506.30. Following the sale, the insider now owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Ditullio sold 6,592 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the sale, the chief operating officer now directly owns 53,148 shares in the company, valued at approximately $9,734,056.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,846 shares of company stock worth $2,137,631. Insiders own 1.17% of the company’s stock.

Institutional Trading of PTC

Large investors have recently modified their holdings of the stock. Lindbrook Capital LLC increased its position in shares of PTC by 108.3% during the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after acquiring an additional 91 shares during the period. Riverview Trust Co purchased a new stake in shares of PTC during the first quarter worth $34,000. Principal Securities Inc. purchased a new stake in shares of PTC during the fourth quarter worth $46,000. Resources Management Corp CT ADV increased its position in shares of PTC by 4,285.7% during the third quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after acquiring an additional 300 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in shares of PTC during the first quarter worth $94,000. Hedge funds and other institutional investors 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.