StockNews.com Downgrades PTC (NASDAQ:PTC) to Hold

StockNews.com cut shares of PTC (NASDAQ:PTC) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

A number of other research firms have also issued reports on PTC. Citigroup dropped their target price on PTC from $195.00 to $187.00 and set a neutral rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada reiterated an outperform rating and issued a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Barclays upped their target price on shares of PTC from $198.00 to $215.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Piper Sandler lifted their price target on shares of PTC from $177.00 to $182.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upped their price target on PTC from $210.00 to $216.00 and gave the stock an outperform rating in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $200.18.

PTC Trading Up 1.9 %

Shares of PTC stock opened at $170.42 on Monday. The company’s fifty day moving average is $176.83 and its two-hundred day moving average is $180.14. PTC has a 1 year low of $134.61 and a 1 year high of $194.24. 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 company has a market capitalization of $20.40 billion, a P/E ratio of 71.31, a PEG ratio of 3.30 and a beta of 1.18.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 1,000 shares of the company’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 transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction on 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 sale, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael Ditullio sold 6,592 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the transaction, the chief operating officer now owns 53,148 shares in the company, valued at $9,734,056.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,846 shares of company stock valued at $3,883,601. 1.17% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC

Hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its position in shares of PTC by 16.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,726 shares of the technology company’s stock worth $677,000 after buying an additional 536 shares during the period. Federated Hermes Inc. raised its holdings in shares of PTC by 2.5% in the 2nd quarter. Federated Hermes Inc. now owns 433,892 shares of the technology company’s stock worth $78,825,000 after purchasing an additional 10,462 shares during the period. Meeder Advisory Services Inc. acquired a new position in shares of PTC in the 2nd quarter valued at about $210,000. DekaBank Deutsche Girozentrale lifted its stake in shares of PTC by 0.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 115,945 shares of the technology company’s stock valued at $20,977,000 after purchasing an additional 909 shares in the last quarter. Finally, Ground Swell Capital LLC purchased a new stake in shares of PTC during the 2nd quarter worth about $913,000. 95.14% of the stock is owned by institutional investors and hedge funds.

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.