PTC (NASDAQ:PTC) PT Lowered to $187.00 at Citigroup

PTC (NASDAQ:PTC) had its target price cut by Citigroup from $195.00 to $187.00 in a research note released on Thursday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on PTC. Barclays boosted their price objective on shares of PTC from $198.00 to $215.00 and gave the company an overweight rating in a report on Thursday, April 11th. Oppenheimer raised their target price on shares of PTC from $190.00 to $210.00 and gave the stock an outperform rating in a report on Thursday, February 1st. KeyCorp upped their price target on shares of PTC from $190.00 to $205.00 and gave the company an overweight rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of PTC from a neutral rating to an overweight rating and raised their price objective for the stock from $130.00 to $200.00 in a report on Thursday, January 4th. Finally, Piper Sandler boosted their price objective on shares of PTC from $155.00 to $177.00 and gave the company a neutral rating in a research report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, PTC currently has an average rating of Moderate Buy and a consensus target price of $200.64.

PTC Price Performance

PTC traded up $5.17 during midday trading on Thursday, reaching $175.77. 1,491,232 shares of the company’s stock were exchanged, compared to its average volume of 866,022. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $183.30 and a two-hundred day simple moving average of $171.35. The firm has a market capitalization of $21.01 billion, a price-to-earnings ratio of 73.54, a price-to-earnings-growth ratio of 3.14 and a beta of 1.19. PTC has a one year low of $124.42 and a one year high of $194.24.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. PTC had a return on equity of 13.76% and a net margin of 12.84%. The company had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. As a group, research analysts predict that PTC will post 3.3 EPS for the current year.

Insiders Place Their Bets

In other news, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now directly owns 968,357 shares in the company, valued at approximately $171,631,594.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO James E. Heppelmann sold 35,000 shares of the business’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 transaction, the chief executive officer now directly owns 968,357 shares in the company, valued at approximately $171,631,594.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Catherine Kniker sold 1,330 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PTC. Legacy Financial Group LLC acquired a new position in shares of PTC during the third quarter worth $28,000. Lindbrook Capital LLC increased its holdings in PTC by 108.3% in the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after purchasing an additional 91 shares in the last quarter. Riverview Trust Co bought a new position in PTC in the first quarter valued at about $34,000. Resources Management Corp CT ADV boosted its stake in shares of 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 purchasing an additional 300 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of PTC during the fourth quarter worth about $46,000. Institutional investors and hedge funds 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.