PTC (NASDAQ:PTC) Downgraded to “Hold” at StockNews.com

PTC (NASDAQ:PTC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

PTC has been the topic of several other reports. Piper Sandler lifted their target price on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup lowered their target price on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Rosenblatt Securities upped their target price on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays upped their price target on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $202.00 price target on shares of PTC in a report on Thursday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PTC has an average rating of “Moderate Buy” and a consensus target price of $200.18.

PTC Price Performance

Shares of PTC traded down $3.87 during trading hours on Monday, hitting $168.18. 1,835,009 shares of the stock were exchanged, compared to its average volume of 845,296. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The stock’s 50-day moving average price is $177.54 and its two-hundred day moving average price is $180.31. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 70.37, a price-to-earnings-growth ratio of 3.30 and a beta of 1.18. PTC has a 12-month low of $134.61 and a 12-month high of $194.24.

Insider Activity at PTC

In related 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 value of $217,506.30. Following the transaction, the insider now owns 13,598 shares of the company’s stock, valued at $2,358,573.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Catherine Kniker sold 1,254 shares of the company’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 value of $217,506.30. Following the completion of 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 company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the transaction, the director now owns 48,137 shares in the company, valued at approximately $8,632,408.21. The disclosure for this sale can be found here. Insiders sold a total of 15,846 shares of company stock worth $2,854,951 over the last quarter. 1.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PTC

Several institutional investors and hedge funds have recently bought and sold shares of PTC. Impax Asset Management Group plc increased its position in PTC by 4.4% during the second quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock worth $206,091,000 after acquiring an additional 48,553 shares during the period. National Bank of Canada FI grew its stake in shares of PTC by 24.2% during the 2nd quarter. National Bank of Canada FI now owns 32,991 shares of the technology company’s stock worth $5,972,000 after acquiring an additional 6,419 shares in the last quarter. TD Asset Management Inc lifted its holdings in PTC by 6.0% during the 2nd quarter. TD Asset Management Inc now owns 463,887 shares of the technology company’s stock valued at $84,274,000 after purchasing an additional 26,244 shares during the last quarter. George Kaiser Family Foundation acquired a new stake in shares of PTC during the second quarter worth $4,461,000. Finally, Oregon Public Employees Retirement Fund increased its position in shares of PTC by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock worth $1,865,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.