StockNews.com Downgrades PTC (NASDAQ:PTC) to Hold

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

Several other research firms have also weighed in on PTC. JPMorgan Chase & Co. boosted their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. KeyCorp boosted their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Robert W. Baird boosted their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $204.00 price target on shares of PTC in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

PTC Trading Down 0.8 %

NASDAQ:PTC opened at $166.57 on Thursday. The stock has a market cap of $20.05 billion, a PE ratio of 51.41, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.23 and a quick ratio of 0.78. PTC has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The stock’s 50-day moving average is $188.05 and its two-hundred day moving average is $183.62.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. As a group, equities research analysts forecast that PTC will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC

In other news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares in the company, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares in the company, valued at $4,344,221.91. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 over the last three months. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of PTC by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after acquiring an additional 240,080 shares during the period. State Street Corp lifted its stake in PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after buying an additional 133,370 shares during the period. Geode Capital Management LLC lifted its stake in PTC by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock valued at $555,626,000 after buying an additional 67,504 shares during the period. Fernbridge Capital Management LP lifted its stake in PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after buying an additional 650,990 shares during the period. Finally, Franklin Resources Inc. lifted its stake in PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after buying an additional 30,525 shares during the period. Institutional investors and hedge funds 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.