PTC (NASDAQ:PTC) Rating Increased to Buy at StockNews.com

PTC (NASDAQ:PTC - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

PTC has been the topic of a number of other reports. Berenberg Bank cut PTC from a "buy" rating to a "hold" rating and dropped their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Royal Bank of Canada raised their price objective on PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday. Piper Sandler upped their target price on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday. Rosenblatt Securities reissued a "buy" rating and issued a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Finally, Robert W. Baird upped their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $204.83.

PTC Stock Performance

PTC stock traded up $2.78 during trading on Friday, hitting $192.83. 1,598,899 shares of the company traded hands, compared to its average volume of 808,537. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. PTC has a 1 year low of $148.01 and a 1 year high of $199.48. The stock's 50-day simple moving average is $180.03 and its 200 day simple moving average is $178.31. The company has a market cap of $23.17 billion, a PE ratio of 62.00, a P/E/G ratio of 2.91 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, November 6th. The technology company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.11. PTC had a net margin of 16.37% and a return on equity of 14.99%. The firm had revenue of $626.55 million during the quarter, compared to analyst estimates of $620.49 million. On average, equities analysts expect that PTC will post 4.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.17% of the company's stock.

Hedge Funds Weigh In On PTC

Institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company's stock worth $26,000 after buying an additional 122 shares during the last quarter. First Horizon Advisors Inc. increased its stake in PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock worth $26,000 after acquiring an additional 62 shares during the last quarter. Rothschild Investment LLC purchased a new stake in PTC in the second quarter valued at $29,000. International Assets Investment Management LLC acquired a new position in shares of PTC in the 2nd quarter valued at $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of PTC during the 2nd quarter worth $31,000. 95.14% of the stock is owned by hedge funds and other 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.

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