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

PTC (NASDAQ:PTC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other analysts have also recently commented on PTC. Piper Sandler increased their target price on PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Rosenblatt Securities increased their target price on PTC from $166.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Mizuho increased their target price on PTC from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Oppenheimer increased their target price on PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Robert W. Baird increased their target price on PTC from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $191.82.

PTC Stock Performance

Shares of NASDAQ:PTC opened at $188.94 on Thursday. The business’s fifty day moving average price is $182.89 and its two-hundred day moving average price is $164.35. PTC has a fifty-two week low of $120.62 and a fifty-two week high of $194.24. The stock has a market capitalization of $22.59 billion, a price-to-earnings ratio of 95.91, a price-to-earnings-growth ratio of 3.37 and a beta of 1.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 1.19.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. PTC had a return on equity of 12.87% and a net margin of 10.86%. The firm had revenue of $550.21 million for the quarter, compared to analysts’ expectations of $538.59 million. As a group, analysts predict that PTC will post 3.49 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the sale, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the sale, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the sale, the chief executive officer now directly owns 968,357 shares in the company, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,415 shares of company stock valued at $6,457,478. 1.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Nomura Holdings Inc. bought a new position in shares of PTC during the fourth quarter worth about $416,000. PNC Financial Services Group Inc. grew its stake in PTC by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,612 shares of the technology company’s stock valued at $807,000 after purchasing an additional 113 shares in the last quarter. Grayhawk Investment Strategies Inc. bought a new position in PTC in the fourth quarter valued at approximately $759,000. Wahed Invest LLC grew its stake in PTC by 9.4% in the fourth quarter. Wahed Invest LLC now owns 1,953 shares of the technology company’s stock valued at $342,000 after purchasing an additional 168 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in PTC by 4.1% in the fourth quarter. Fisher Asset Management LLC now owns 24,057 shares of the technology company’s stock valued at $4,209,000 after purchasing an additional 955 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

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.