PTC (NASDAQ:PTC) Stock Rating Lowered by Berenberg Bank

PTC (NASDAQ:PTC - Get Free Report) was downgraded by Berenberg Bank from a "buy" rating to a "hold" rating in a report released on Friday, Marketbeat Ratings reports. They presently have a $196.00 price target on the technology company's stock, down from their previous price target of $210.00. Berenberg Bank's price objective indicates a potential upside of 5.93% from the stock's previous close.

Several other analysts have also weighed in on the company. StockNews.com lowered PTC from a "buy" rating to a "hold" rating in a report on Monday, August 5th. Robert W. Baird increased their price objective on shares of PTC from $216.00 to $226.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada restated an "outperform" rating and set a $202.00 target price on shares of PTC in a research report on Thursday, August 1st. Piper Sandler increased their price target on shares of PTC from $177.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities restated a "buy" rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, PTC presently has a consensus rating of "Moderate Buy" and an average target price of $200.67.

PTC Price Performance

PTC stock traded down $0.30 on Friday, reaching $185.03. 739,700 shares of the company's stock were exchanged, compared to its average volume of 795,678. The stock has a fifty day moving average of $178.38 and a 200-day moving average of $177.77. The firm has a market cap of $22.23 billion, a PE ratio of 75.65, a P/E/G ratio of 2.75 and a beta of 1.17. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC has a twelve month low of $135.16 and a twelve month high of $194.24.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.02. PTC had a net margin of 13.32% and a return on equity of 13.36%. The business had revenue of $518.64 million for the quarter, compared to analysts' expectations of $533.04 million. As a group, equities analysts predict that PTC will post 3.51 EPS for the current fiscal year.

Insider Activity at PTC

In other news, Director Robert Schechter sold 5,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the transaction, the director now directly owns 59,616 shares in the company, valued at $10,237,855.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the transaction, the executive vice president now directly owns 13,902 shares of the company's stock, valued at $2,363,340. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Schechter sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the sale, the director now directly owns 59,616 shares of the company's stock, valued at approximately $10,237,855.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,000 shares of company stock worth $1,714,010. 1.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in PTC by 61.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,658 shares of the technology company's stock worth $1,069,000 after buying an additional 2,144 shares during the period. First Trust Direct Indexing L.P. increased its position in shares of PTC by 20.2% during the first quarter. First Trust Direct Indexing L.P. now owns 2,160 shares of the technology company's stock worth $408,000 after acquiring an additional 363 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of PTC by 2.6% in the first quarter. Commonwealth Equity Services LLC now owns 3,609 shares of the technology company's stock worth $682,000 after acquiring an additional 93 shares in the last quarter. Norden Group LLC boosted its holdings in PTC by 41.2% in the first quarter. Norden Group LLC now owns 4,591 shares of the technology company's stock valued at $867,000 after purchasing an additional 1,339 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in PTC by 0.8% during the 1st quarter. Retirement Systems of Alabama now owns 26,387 shares of the technology company's stock valued at $4,986,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other 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.