PTC (NASDAQ:PTC) Raised to “Strong-Buy” at Wall Street Zen

PTC (NASDAQ:PTC) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

PTC has been the topic of several other research reports. Piper Sandler decreased their price target on PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Weiss Ratings restated a “buy (b-)” rating on shares of PTC in a report on Monday, December 29th. BMO Capital Markets lowered their target price on shares of PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Robert W. Baird set a $255.00 price target on shares of PTC in a research report on Wednesday, October 22nd. Finally, Rosenblatt Securities lowered their price objective on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, PTC currently has an average rating of “Moderate Buy” and a consensus target price of $205.92.

PTC Stock Performance

NASDAQ:PTC opened at $170.10 on Friday. The company’s 50-day moving average is $178.69 and its two-hundred day moving average is $192.78. PTC has a 1-year low of $133.38 and a 1-year high of $219.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 2.84 and a beta of 1.01.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. The business had revenue of $1.76 billion during the quarter. PTC had a net margin of 27.05% and a return on equity of 23.02%. Analysts forecast that PTC will post 4.46 EPS for the current year.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the sale, the executive vice president owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. This represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristian Talvitie sold 50,291 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the sale, the executive vice president owned 12,386 shares in the company, valued at approximately $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 61,277 shares of company stock worth $10,624,076. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On PTC

Several large investors have recently bought and sold shares of PTC. Campbell Newman Asset Management Inc. lifted its holdings in PTC by 0.4% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 12,147 shares of the technology company’s stock worth $2,466,000 after buying an additional 49 shares during the last quarter. Diversified Trust Co raised its position in shares of PTC by 2.5% during the 3rd quarter. Diversified Trust Co now owns 2,209 shares of the technology company’s stock worth $448,000 after acquiring an additional 53 shares in the last quarter. Versant Capital Management Inc raised its position in shares of PTC by 37.6% during the 3rd quarter. Versant Capital Management Inc now owns 194 shares of the technology company’s stock worth $39,000 after acquiring an additional 53 shares in the last quarter. Archford Capital Strategies LLC lifted its stake in PTC by 1.4% during the third quarter. Archford Capital Strategies LLC now owns 4,695 shares of the technology company’s stock worth $953,000 after purchasing an additional 63 shares during the last quarter. Finally, Bellecapital International Ltd. boosted its holdings in PTC by 4.3% in the second quarter. Bellecapital International Ltd. now owns 1,604 shares of the technology company’s stock valued at $276,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.