PTC Inc. (NASDAQ:PTC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of PTC Inc. (NASDAQ:PTC) have received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $200.18.

Several brokerages have commented on PTC. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. Rosenblatt Securities upped their target price on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler increased their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th.

Insiders Place Their Bets

In other news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other PTC news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $2,431,330 in the last 90 days. Corporate insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of large investors have recently added to or reduced their stakes in PTC. Intech Investment Management LLC boosted its position in shares of PTC by 180.8% in the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after acquiring an additional 17,430 shares during the last quarter. Swedbank AB acquired a new stake in PTC in the first quarter valued at $9,849,000. BNP Paribas Financial Markets raised its holdings in PTC by 133.1% in the first quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock valued at $23,205,000 after acquiring an additional 70,131 shares in the last quarter. Norden Group LLC raised its holdings in PTC by 1,600.7% in the first quarter. Norden Group LLC now owns 55,308 shares of the technology company’s stock valued at $10,450,000 after acquiring an additional 52,056 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in PTC by 25.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,820 shares of the technology company’s stock valued at $146,061,000 after purchasing an additional 169,592 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Price Performance

Shares of NASDAQ PTC opened at $179.60 on Friday. The firm has a market cap of $21.50 billion, a P/E ratio of 75.15, a PEG ratio of 3.40 and a beta of 1.17. PTC has a twelve month low of $134.61 and a twelve month high of $194.24. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $174.45 and a 200 day moving average of $178.12.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $518.64 million for the quarter, compared to the consensus estimate of $533.04 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. As a group, research analysts expect that PTC will post 3.52 EPS for the current fiscal year.

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.