PTC (NASDAQ:PTC) Price Target Cut to $187.00

PTC (NASDAQ:PTC) had its target price decreased by stock analysts at Citigroup from $195.00 to $187.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s price target suggests a potential upside of 6.39% from the company’s previous close.

Several other equities analysts have also commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 target price on shares of PTC in a research note on Thursday, February 1st. Piper Sandler increased their price target on PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price target on shares of PTC in a report on Friday, April 12th. Mizuho reduced their price target on PTC from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday. Finally, 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. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.64.

PTC Stock Performance

PTC traded up $5.17 during trading on Thursday, hitting $175.77. 1,491,232 shares of the stock were exchanged, compared to its average volume of 866,022. The firm has a market capitalization of $21.01 billion, a P/E ratio of 73.54, a PEG ratio of 3.05 and a beta of 1.19. PTC has a 1-year low of $124.42 and a 1-year high of $194.24. The stock has a fifty day moving average price of $183.30 and a two-hundred day moving average price of $171.18. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.68.

PTC (NASDAQ:PTC) last released its earnings results 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. The business had revenue of $550.21 million for the quarter, compared to analyst estimates of $538.59 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. As a group, sell-side analysts predict that PTC will post 3.47 earnings per share for the current year.

Insider Activity at PTC

In other news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction 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 transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $171,631,594.68. The disclosure for this sale can be found here. 1.17% of the stock is owned by insiders.

Institutional Trading of PTC

Hedge funds and other institutional investors have recently modified their holdings of the business. Legacy Financial Group LLC bought a new position in PTC during the third quarter valued at about $28,000. Lindbrook Capital LLC grew 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 in the last quarter. Riverview Trust Co acquired a new stake in PTC during the first quarter worth about $34,000. Resources Management Corp CT ADV grew its position 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 worth $43,000 after buying an additional 300 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in 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.