PTC (NASDAQ:PTC) PT Lowered to $187.00 at Citigroup

PTC (NASDAQ:PTC) had its price objective lowered by equities research analysts at Citigroup from $195.00 to $187.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s price target would indicate a potential upside of 9.61% from the stock’s previous close.

PTC has been the subject of a number of other research reports. Robert W. Baird boosted their target price on shares of PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a research report on Thursday. KeyCorp increased their target price on shares of PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. BMO Capital Markets lifted their price target on shares of PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upgraded PTC from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $130.00 to $200.00 in a research note on Thursday, January 4th. Finally, Piper Sandler upped their target price on PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.64.

PTC Stock Performance

Shares of PTC stock traded down $4.36 on Thursday, reaching $170.60. The stock had a trading volume of 2,101,290 shares, compared to its average volume of 851,849. PTC has a 12 month low of $124.42 and a 12 month high of $194.24. The firm has a market capitalization of $20.40 billion, a price-to-earnings ratio of 87.45, a P/E/G ratio of 3.17 and a beta of 1.19. The firm’s 50-day moving average is $183.57 and its two-hundred day moving average is $170.96. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $550.21 million for the quarter, compared to analyst estimates of $538.59 million. PTC had a net margin of 10.86% and a return on equity of 12.87%. On average, research analysts expect that PTC will post 3.47 EPS for the current fiscal year.

Insider Buying and Selling

In other PTC news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the sale, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares in the company, valued at approximately $171,631,594.68. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC

A number of large investors have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its stake in shares of PTC by 1.0% during the first quarter. Mutual of America Capital Management LLC now owns 26,607 shares of the technology company’s stock valued at $5,027,000 after buying an additional 261 shares during the period. Daiwa Securities Group Inc. boosted its holdings in PTC by 0.9% in the first quarter. Daiwa Securities Group Inc. now owns 28,013 shares of the technology company’s stock valued at $5,293,000 after acquiring an additional 243 shares in the last quarter. Nordea Investment Management AB increased its position in PTC by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 9,240 shares of the technology company’s stock valued at $1,748,000 after purchasing an additional 322 shares during the period. Fidelis Capital Partners LLC raised its stake in PTC by 5.4% in the first quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock worth $275,000 after buying an additional 74 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of PTC by 14.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,658 shares of the technology company’s stock valued at $691,000 after purchasing an additional 459 shares during the period. 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.