PTC (NASDAQ:PTC) Stock Gets Downgrade from Wolfe Research

PTC (NASDAQ:PTC) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Thursday, MarketBeat Ratings reports.

Several other research analysts also recently weighed in on the company. Barclays downgraded PTC from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $155.00 to $205.00 in a research note on Monday, October 5th. BMO Capital Markets lowered shares of PTC from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $164.00 to $205.00 in a research report on Tuesday, October 6th. Loop Capital cut shares of PTC from a “buy” rating to a “hold” rating and upped their target price for the company from $200.00 to $205.00 in a research report on Monday, October 5th. Mizuho increased their price target on shares of PTC from $160.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 6th. Finally, Weiss Ratings raised PTC from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $200.06.

PTC Trading Down 0.2%

NASDAQ:PTC opened at $196.14 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.03 and a debt-to-equity ratio of 0.47. PTC has a 12 month low of $108.50 and a 12 month high of $196.79. The company has a market cap of $21.28 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.58 and a beta of 0.93. The company has a 50 day simple moving average of $169.43 and a two-hundred day simple moving average of $148.61.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. The firm had revenue of $673.25 million during the quarter, compared to analyst estimates of $663.56 million. PTC had a net margin of 37.80% and a return on equity of 20.03%. The business’s revenue for the quarter was down 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.41 EPS. Research analysts forecast that PTC will post 7.12 earnings per share for the current year.

Insider Buying and Selling at PTC

In other news, Director Corinna Lathan sold 1,750 shares of the company’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $195.75, for a total value of $342,562.50. Following the sale, the director directly owned 6,679 shares of the company’s stock, valued at $1,307,414.25. This represents a 20.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by company insiders.

Institutional Trading of PTC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTC. Advisors Asset Management Inc. purchased a new position in PTC in the 3rd quarter valued at about $1,922,000. GW&K Investment Management LLC raised its holdings in shares of PTC by 137.6% during the 3rd quarter. GW&K Investment Management LLC now owns 240 shares of the technology company’s stock worth $34,000 after acquiring an additional 139 shares during the period. Boston Partners raised its holdings in shares of PTC by 63.7% during the 3rd quarter. Boston Partners now owns 27,036 shares of the technology company’s stock worth $3,793,000 after acquiring an additional 10,523 shares during the period. Landscape Capital Management L.L.C. boosted its position in shares of PTC by 44.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 28,414 shares of the technology company’s stock valued at $3,986,000 after acquiring an additional 8,767 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of PTC by 9.6% during the 3rd quarter. Global Retirement Partners LLC now owns 1,050 shares of the technology company’s stock valued at $147,000 after acquiring an additional 92 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Company Profile

PTC Inc. develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing. PTC’s products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.