StockNews.com Upgrades PTC (NASDAQ:PTC) to “Buy”

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

A number of other brokerages also recently commented on PTC. Barclays raised their target price on shares of PTC from $198.00 to $215.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Mizuho reaffirmed a neutral rating and set a $190.00 price target (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Rosenblatt Securities reaffirmed a buy rating and set a $195.00 price target on shares of PTC in a research note on Friday, April 12th. Citigroup dropped their price target on shares of PTC from $195.00 to $187.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Finally, Robert W. Baird lifted their price target on shares of PTC from $210.00 to $216.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $199.73.

PTC Stock Up 0.3 %

Shares of PTC opened at $177.60 on Wednesday. The firm has a market cap of $21.26 billion, a PE ratio of 74.31, a price-to-earnings-growth ratio of 3.33 and a beta of 1.18. The company’s fifty day moving average is $177.81 and its two-hundred day moving average is $178.73. PTC has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, May 1st. The technology company reported $1.10 EPS 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 the consensus estimate of $575.53 million. Analysts forecast that PTC will post 3.48 earnings per share for the current year.

Insider Transactions at PTC

In other PTC news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total value of $712,800.00. Following the transaction, the director now owns 52,137 shares of the company’s stock, valued at $9,290,813.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 52,137 shares in the company, valued at approximately $9,290,813.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Catherine Kniker sold 1,254 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 11,846 shares of company stock valued at $2,137,631. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its position in PTC by 25.2% during the 4th quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock worth $4,426,000 after acquiring an additional 5,100 shares during the period. Portfolio Design Labs LLC acquired a new position in PTC during the 4th quarter worth $4,316,000. Norges Bank acquired a new position in PTC during the 4th quarter worth $114,043,000. USA Financial Formulas acquired a new position in PTC during the 4th quarter worth $1,355,000. Finally, Silverberg Bernstein Capital Management LLC acquired a new position in PTC during the 4th quarter worth $9,647,000. 95.14% of the stock is currently owned by institutional investors.

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.