PTC (NASDAQ:PTC) Price Target Cut to $200.00 by Analysts at Mizuho

PTC (NASDAQ:PTC) had its target price lowered by stock analysts at Mizuho from $210.00 to $200.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Mizuho’s price objective indicates a potential upside of 14.31% from the stock’s previous close.

PTC has been the subject of a number of other research reports. Oppenheimer increased their target price on shares of PTC from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. BMO Capital Markets raised their price objective on shares of PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Royal Bank of Canada restated an “outperform” rating and issued a $202.00 target price on shares of PTC in a research report on Thursday, February 1st. KeyCorp increased their price target on PTC from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, Piper Sandler boosted their price objective on PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.00.

PTC Stock Performance

Shares of NASDAQ PTC opened at $174.96 on Thursday. PTC has a 12-month low of $124.42 and a 12-month high of $194.24. The company has a market cap of $20.92 billion, a PE ratio of 88.81, a P/E/G ratio of 3.17 and a beta of 1.19. The stock has a 50 day simple moving average of $183.57 and a 200-day simple moving average of $170.96. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $550.21 million during the quarter, compared to analyst estimates of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. On average, equities research analysts forecast that PTC will post 3.47 EPS for the current year.

Insider Buying and Selling

In related news, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other PTC news, insider Catherine Kniker sold 1,330 shares of PTC 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 transaction, the insider now owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTC. Legacy Financial Group LLC acquired a new stake in shares of PTC during the 3rd quarter valued at about $28,000. Lindbrook Capital LLC increased its position in PTC by 108.3% during the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after buying an additional 91 shares during the last quarter. Riverview Trust Co acquired a new position in PTC during the first quarter worth $34,000. Resources Management Corp CT ADV raised its holdings in PTC by 4,285.7% during the third quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock valued at $43,000 after buying an additional 300 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of PTC during the 4th quarter worth about $46,000. 95.14% of the stock is owned by hedge funds and other 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.