Citigroup Has Lowered Expectations for PTC (NASDAQ:PTC) Stock Price

PTC (NASDAQ:PTC) had its price target cut by investment analysts at Citigroup from $200.00 to $195.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 13.63% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Robert W. Baird lifted their price target on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Tuesday. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Piper Sandler lifted their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

PTC Stock Performance

NASDAQ PTC opened at $171.61 on Wednesday. The stock has a market cap of $20.65 billion, a PE ratio of 55.18, a P/E/G ratio of 2.62 and a beta of 1.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC has a twelve month low of $163.30 and a twelve month high of $203.09. The stock has a fifty day simple moving average of $190.48 and a 200-day simple moving average of $183.73.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.63% and a net margin of 16.37%. Equities analysts anticipate that PTC will post 4.62 earnings per share for the current year.

Insider Buying and Selling at PTC

In related news, CAO Alice Christenson sold 1,703 shares of PTC 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 sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Corinna Lathan sold 860 shares of PTC stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares in the company, valued at approximately $1,368,600. This trade represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,242 shares of company stock worth $3,630,716. 0.32% of the stock is currently owned by insiders.

Institutional Trading of PTC

A number of institutional investors have recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. purchased a new stake in PTC during the fourth quarter worth $309,000. Raymond James Financial Inc. purchased a new stake in PTC during the fourth quarter worth $146,712,000. Arizona State Retirement System boosted its position in PTC by 1.6% during the fourth quarter. Arizona State Retirement System now owns 34,866 shares of the technology company’s stock worth $6,411,000 after purchasing an additional 559 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in PTC during the fourth quarter worth $8,858,000. Finally, M&T Bank Corp boosted its position in PTC by 13.7% during the fourth quarter. M&T Bank Corp now owns 8,798 shares of the technology company’s stock worth $1,618,000 after purchasing an additional 1,061 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

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.