PTC (NASDAQ:PTC) Stock Rating Lowered by StockNews.com

PTC (NASDAQ:PTC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other brokerages have also issued reports on PTC. Robert W. Baird lifted their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and dropped their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Stifel Nicolaus increased their price target on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Finally, Piper Sandler increased their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.54.

PTC Price Performance

NASDAQ PTC opened at $189.08 on Tuesday. The firm’s 50 day moving average is $191.14 and its 200-day moving average is $183.30. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $22.76 billion, a PE ratio of 60.80, a price-to-earnings-growth ratio of 2.55 and a beta of 1.18. PTC has a 12-month low of $163.30 and a 12-month high of $203.09.

Insider Activity

In other news, 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 transaction, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corinna Lathan sold 860 shares of PTC 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 sale, the director now directly owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock valued at $3,630,716 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PTC

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd increased its position in shares of PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 80 shares during the period. Brooklyn Investment Group bought a new position in PTC in the 3rd quarter valued at about $66,000. Park Place Capital Corp acquired a new position in shares of PTC in the 3rd quarter valued at approximately $67,000. Blue Trust Inc. lifted its holdings in shares of PTC by 473.9% during the 3rd quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after acquiring an additional 654 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of PTC during the 3rd quarter worth approximately $152,000. 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.