PTC (NASDAQ:PTC) Price Target Cut to $183.00 by Analysts at BMO Capital Markets

PTC (NASDAQ:PTC - Free Report) had its target price reduced by BMO Capital Markets from $220.00 to $183.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. They currently have an outperform rating on the technology company's stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. restated a "neutral" rating and issued a $160.00 target price (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Rosenblatt Securities restated a "buy" rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. StockNews.com cut shares of PTC from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Mizuho lowered their price objective on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Barclays dropped 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. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $195.67.

PTC Stock Performance

PTC stock traded down $0.42 during midday trading on Wednesday, hitting $143.56. 655,600 shares of the stock traded hands, compared to its average volume of 873,851. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $17.27 billion, a P/E ratio of 44.31, a PEG ratio of 2.27 and a beta of 1.17. The stock's fifty day simple moving average is $156.63 and its 200-day simple moving average is $177.37. PTC has a 1-year low of $133.38 and a 1-year high of $203.09.

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

Insider Buying and Selling at PTC

In other news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the transaction, the director now directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. This represents a 7.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Strategic Advisors LLC grew its stake in PTC by 1.1% in the first quarter. Strategic Advisors LLC now owns 7,729 shares of the technology company's stock worth $1,198,000 after purchasing an additional 83 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in PTC during the first quarter worth about $488,000. Exchange Traded Concepts LLC lifted its holdings in PTC by 21.7% in the first quarter. Exchange Traded Concepts LLC now owns 84,339 shares of the technology company's stock worth $13,068,000 after acquiring an additional 15,028 shares during the last quarter. Capital Investment Services of America Inc. boosted its stake in PTC by 0.3% in the first quarter. Capital Investment Services of America Inc. now owns 189,838 shares of the technology company's stock valued at $29,415,000 after acquiring an additional 534 shares during the period. Finally, Azzad Asset Management Inc. ADV bought a new position in shares of PTC during the first quarter valued at approximately $536,000. 95.14% of the stock is currently owned by institutional investors.

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.