PTC (NASDAQ:PTC) Reaches New 52-Week Low - Here's What Happened

PTC Inc. (NASDAQ:PTC - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $146.92 and last traded at $147.90, with a volume of 116930 shares. The stock had previously closed at $157.16.

Wall Street Analysts Forecast Growth

PTC has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on shares of PTC from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $204.00 price target on shares of PTC in a report on Tuesday, February 4th. StockNews.com lowered PTC from a "buy" rating to a "hold" rating in a report on Monday, March 17th. Citigroup reduced their target price on PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a research note on Wednesday, February 5th. Finally, KeyCorp upped their price objective on shares of PTC from $205.00 to $211.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $210.09.

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PTC Price Performance

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 stock's 50 day simple moving average is $166.16 and its two-hundred day simple moving average is $180.24. The firm has a market capitalization of $16.82 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS 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%. On average, sell-side analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Insider Activity at PTC

In related news, Director Corinna Lathan sold 622 shares of the company'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 in the company, valued at approximately $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of PTC in the 4th quarter valued at approximately $30,000. Allworth Financial LP raised its position in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after purchasing an additional 69 shares during the period. Pinney & Scofield Inc. acquired a new position in PTC during the fourth quarter worth $47,000. Kapitalo Investimentos Ltda purchased a new position in shares of PTC during the fourth quarter worth $51,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of PTC by 42.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the technology company's stock valued at $60,000 after buying an additional 114 shares in the last quarter. Hedge funds and other institutional investors 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.