PTC (NASDAQ:PTC) was downgraded by research analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat Ratings reports. They presently have a $68.00 target price on the technology company’s stock. J P Morgan Chase & Co’s target price suggests a potential upside of 12.47% from the stock’s current price.

Several other equities analysts also recently commented on PTC. BidaskClub upgraded shares of PTC from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Berenberg Bank assumed coverage on shares of PTC in a report on Wednesday, August 23rd. They set a “buy” rating and a $66.00 price target on the stock. Barclays upped their price target on shares of PTC from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. KeyCorp reiterated a “buy” rating and set a $74.00 price target (up from $64.00) on shares of PTC in a report on Thursday, October 26th. Finally, Evercore ISI set a $65.00 price target on shares of PTC and gave the company a “buy” rating in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $66.13.

Shares of PTC (PTC) traded up $0.33 during midday trading on Tuesday, hitting $60.46. 1,580,000 shares of the stock traded hands, compared to its average volume of 880,594. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $7,020.00, a PE ratio of 102.47 and a beta of 1.33. PTC has a 52-week low of $45.72 and a 52-week high of $67.12.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, October 25th. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $306.38 million for the quarter, compared to analysts’ expectations of $306.59 million. PTC had a net margin of 0.54% and a return on equity of 8.08%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.20 earnings per share. equities analysts forecast that PTC will post 0.81 EPS for the current fiscal year.

PTC declared that its Board of Directors has approved a share buyback program on Tuesday, September 19th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

In other PTC news, EVP Anthony Dibona sold 4,920 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $64.58, for a total value of $317,733.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Schechter sold 1,128 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $66.88, for a total transaction of $75,440.64. Following the completion of the transaction, the director now owns 64,826 shares in the company, valued at $4,335,562.88. The disclosure for this sale can be found here. Insiders sold a total of 55,924 shares of company stock worth $3,627,304 over the last 90 days. Insiders own 1.11% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. AXA lifted its position in shares of PTC by 15.9% in the 3rd quarter. AXA now owns 1,161,468 shares of the technology company’s stock worth $65,367,000 after purchasing an additional 159,329 shares during the period. Jane Street Group LLC purchased a new stake in shares of PTC in the 3rd quarter worth approximately $907,000. Vident Investment Advisory LLC lifted its position in shares of PTC by 63.4% in the 3rd quarter. Vident Investment Advisory LLC now owns 223,957 shares of the technology company’s stock worth $12,604,000 after purchasing an additional 86,925 shares during the period. Lagoda Investment Management L.P. lifted its position in shares of PTC by 6.7% in the 3rd quarter. Lagoda Investment Management L.P. now owns 135,038 shares of the technology company’s stock worth $7,600,000 after purchasing an additional 8,510 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of PTC by 8.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 200,000 shares of the technology company’s stock worth $11,256,000 after purchasing an additional 15,000 shares during the period. 97.99% of the stock is owned by hedge funds and other institutional investors.

WARNING: This article was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The legal version of this article can be read at https://www.americanbankingnews.com/2017/12/17/ptc-ptc-cut-to-neutral-at-j-p-morgan-chase-co.html.

About PTC

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

Analyst Recommendations for PTC (NASDAQ:PTC)

Receive News & Ratings for PTC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC and related companies with MarketBeat.com's FREE daily email newsletter.