PTC (NASDAQ:PTC) Cut to “Hold” at Berenberg Bank

Berenberg Bank downgraded shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Marketbeat.com reports. They currently have $196.00 price target on the technology company’s stock, down from their prior price target of $210.00.

Other analysts also recently issued reports about the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Robert W. Baird increased their target price on shares of PTC from $216.00 to $226.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Piper Sandler raised their price target on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and set a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Finally, StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.67.

PTC Stock Performance

Shares of NASDAQ:PTC opened at $186.23 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC has a 1-year low of $146.63 and a 1-year high of $194.24. The stock has a market capitalization of $22.37 billion, a P/E ratio of 76.01, a P/E/G ratio of 2.72 and a beta of 1.17. The business has a 50-day moving average price of $178.74 and a two-hundred day moving average price of $177.89.

Insider Activity at PTC

In other PTC news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was 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 of the company’s stock, valued at $7,562,433.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.17% of the stock is currently owned by insiders.

Institutional Trading of PTC

Institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in PTC in the third quarter worth approximately $269,000. Legacy Capital Wealth Partners LLC bought a new position in shares of PTC during the third quarter valued at about $302,000. Covestor Ltd boosted its stake in shares of 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 during the last quarter. Atria Investments Inc boosted its position in PTC by 33.8% in the third quarter. Atria Investments Inc now owns 2,455 shares of the technology company’s stock worth $444,000 after purchasing an additional 620 shares during the last quarter. Finally, Equitable Trust Co. boosted its holdings in shares of PTC by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 3,602 shares of the technology company’s stock worth $651,000 after buying an additional 79 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

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.