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

StockNews.com upgraded shares of PTC (NASDAQ:PTC) from a hold rating to a buy rating in a report issued on Wednesday morning.

Other equities analysts have also issued reports about the stock. Mizuho reaffirmed a neutral rating and issued a $190.00 price objective (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Robert W. Baird increased their price objective on shares of PTC from $210.00 to $216.00 and gave the company an outperform rating in a research report on Thursday, May 2nd. Barclays increased their price objective on shares of PTC from $198.00 to $215.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Rosenblatt Securities reaffirmed a buy rating and issued a $195.00 price objective on shares of PTC in a research report on Friday, April 12th. Finally, Citigroup decreased their price objective on shares of PTC from $195.00 to $187.00 and set a neutral rating for the company in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC presently has an average rating of Moderate Buy and a consensus target price of $199.73.

PTC Stock Up 0.2 %

NASDAQ:PTC opened at $181.67 on Wednesday. PTC has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The stock has a market capitalization of $21.75 billion, a P/E ratio of 76.01, a P/E/G ratio of 3.34 and a beta of 1.18. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.76 and a current ratio of 0.76. The company’s 50-day simple moving average is $178.03 and its 200-day simple moving average is $178.83.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.23. PTC had a net margin of 12.84% and a return on equity of 13.76%. The business had revenue of $603.07 million for the quarter, compared to analysts’ expectations of $575.53 million. On average, equities analysts anticipate that PTC will post 3.48 earnings per share for the current fiscal year.

Insider Transactions at PTC

In other news, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the sale, the insider now owns 13,598 shares of the company’s stock, valued at approximately $2,358,573.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the sale, the insider now owns 13,598 shares of the company’s stock, valued at approximately $2,358,573.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total transaction of $712,800.00. Following the sale, the director now directly owns 52,137 shares in the company, valued at approximately $9,290,813.40. The disclosure for this sale can be found here. Insiders have sold 11,846 shares of company stock valued at $2,137,631 in the last 90 days. 1.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC

A number of institutional investors have recently added to or reduced their stakes in PTC. Wellington Management Group LLP grew its stake in PTC by 1,409.3% in the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after acquiring an additional 1,569,081 shares during the period. Twin Focus Capital Partners LLC acquired a new stake in PTC in the 4th quarter valued at $177,081,000. Vanguard Group Inc. boosted its stake in PTC by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after purchasing an additional 859,227 shares during the last quarter. Norges Bank acquired a new stake in PTC during the 4th quarter worth $114,043,000. Finally, Balyasny Asset Management L.P. boosted its stake in PTC by 173.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock worth $95,050,000 after purchasing an additional 344,853 shares during the last quarter. 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.