Rosenblatt Securities Reaffirms “Buy” Rating for PTC (NASDAQ:PTC)

Rosenblatt Securities restated their buy rating on shares of PTC (NASDAQ:PTC) in a report published on Thursday, Benzinga reports. Rosenblatt Securities currently has a $195.00 target price on the technology company’s stock.

Several other analysts have also weighed in on PTC. Royal Bank of Canada reissued an outperform rating and set a $202.00 price objective on shares of PTC in a report on Thursday, August 1st. StockNews.com downgraded PTC from a buy rating to a hold rating in a research report on Monday, August 5th. Finally, Piper Sandler upped their price target on PTC from $177.00 to $182.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $200.18.

PTC Stock Up 0.3 %

Shares of NASDAQ:PTC opened at $181.00 on Thursday. The firm has a 50 day simple moving average of $174.82 and a 200 day simple moving average of $177.77. PTC has a 52 week low of $134.61 and a 52 week high of $194.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $21.67 billion, a PE ratio of 75.73, a price-to-earnings-growth ratio of 2.67 and a beta of 1.17.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The firm had revenue of $518.64 million during the quarter, compared to analyst estimates of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. As a group, research analysts expect that PTC will post 3.51 earnings per share for the current year.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the transaction, the director now directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,000 shares of company stock valued at $1,714,010. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of PTC

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in PTC by 1.5% in the first quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after purchasing an additional 205,673 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 worth $294,006,000 after acquiring an additional 1,569,081 shares during the last quarter. Impax Asset Management Group plc raised its position in PTC by 4.4% during the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after purchasing an additional 48,553 shares during the last quarter. Twin Focus Capital Partners LLC purchased a new position in PTC during the 4th quarter valued at $177,081,000. Finally, Liontrust Investment Partners LLP raised its stake in PTC by 1.0% in the second quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock worth $182,383,000 after buying an additional 10,338 shares in the last quarter. Hedge funds and other institutional investors 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.