PTC (NASDAQ:PTC) Given New $185.00 Price Target at KeyCorp

PTC (NASDAQ:PTC - Get Free Report) had its price objective cut by equities researchers at KeyCorp from $211.00 to $185.00 in a research note issued on Wednesday, Marketbeat reports. The firm presently has an "overweight" rating on the technology company's stock. KeyCorp's target price would indicate a potential upside of 28.87% from the stock's previous close.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of PTC from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Barclays decreased their target price on shares of PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $160.00 price objective (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Mizuho lowered their target price on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, Citigroup decreased their price target on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $195.67.

PTC Price Performance

NASDAQ PTC traded down $0.42 during trading hours on Wednesday, hitting $143.56. The company had a trading volume of 655,600 shares, compared to its average volume of 873,851. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $17.27 billion, a price-to-earnings ratio of 44.31, a PEG ratio of 2.27 and a beta of 1.17. PTC has a 52 week low of $133.38 and a 52 week high of $203.09. The firm has a 50 day simple moving average of $156.63 and a 200 day simple moving average of $177.37.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Equities research analysts expect that PTC will post 4.46 earnings per share for the current year.

Insider Activity

In related news, Director Corinna Lathan sold 622 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now directly owns 7,604 shares of the company's stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company's stock.

Institutional Investors Weigh In On PTC

Institutional investors and hedge funds have recently modified their holdings of the stock. Stifel Financial Corp grew its stake in PTC by 18.7% during the third quarter. Stifel Financial Corp now owns 9,449 shares of the technology company's stock valued at $1,707,000 after acquiring an additional 1,487 shares in the last quarter. MML Investors Services LLC grew its stake in shares of PTC by 67.0% in the 3rd quarter. MML Investors Services LLC now owns 3,181 shares of the technology company's stock worth $575,000 after buying an additional 1,276 shares in the last quarter. Sanctuary Advisors LLC grew its position in PTC by 48.7% in the third quarter. Sanctuary Advisors LLC now owns 4,265 shares of the technology company's stock worth $843,000 after acquiring an additional 1,397 shares in the last quarter. Franklin Resources Inc. grew its position in PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company's stock worth $203,463,000 after acquiring an additional 30,525 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new stake in PTC during the third quarter worth approximately $3,113,000. Institutional investors own 95.14% of the company's stock.

About PTC

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.