PTC (NASDAQ:PTC) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.
A number of other brokerages have also recently issued reports on PTC. Barclays boosted their price objective on PTC from $86.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, April 19th. Berenberg Bank boosted their price objective on PTC to $100.00 and gave the stock a “buy” rating in a report on Monday, April 23rd. UBS boosted their price objective on PTC to $67.00 and gave the stock a “neutral” rating in a report on Wednesday, April 18th. Robert W. Baird restated an “in-line” rating and set a $95.00 price objective (up previously from $83.00) on shares of PTC in a report on Thursday, April 19th. Finally, KeyCorp boosted their price objective on PTC from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, April 19th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. PTC currently has a consensus rating of “Buy” and an average target price of $80.25.
Shares of NASDAQ PTC opened at $84.42 on Thursday. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 114.11, a price-to-earnings-growth ratio of 2.66 and a beta of 1.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.94 and a current ratio of 0.94. PTC has a twelve month low of $84.07 and a twelve month high of $84.65.
In other PTC news, EVP Anthony Dibona sold 3,278 shares of the business’s stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $84.35, for a total transaction of $276,499.30. Following the completion of the transaction, the executive vice president now directly owns 33,181 shares in the company, valued at $2,798,817.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Barry F. Cohen sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, April 20th. The shares were sold at an average price of $84.13, for a total transaction of $5,889,100.00. Following the transaction, the executive vice president now owns 58,164 shares of the company’s stock, valued at $4,893,337.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,278 shares of company stock valued at $11,520,574. 1.19% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PTC. Carillon Tower Advisers Inc. acquired a new position in PTC during the fourth quarter valued at approximately $114,935,000. Renaissance Technologies LLC raised its position in PTC by 441.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,088,600 shares of the technology company’s stock valued at $66,154,000 after purchasing an additional 887,400 shares in the last quarter. BlackRock Inc. raised its position in PTC by 5.4% during the first quarter. BlackRock Inc. now owns 10,397,084 shares of the technology company’s stock valued at $811,076,000 after purchasing an additional 530,133 shares in the last quarter. Deutsche Bank AG raised its position in PTC by 114.3% during the fourth quarter. Deutsche Bank AG now owns 722,059 shares of the technology company’s stock valued at $43,876,000 after purchasing an additional 385,198 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in PTC by 32.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,438,819 shares of the technology company’s stock valued at $87,437,000 after purchasing an additional 349,609 shares in the last quarter.
PTC Inc develops and delivers software products and solutions worldwide. It operates through three segments: IoT Group, Solutions Group, and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things (IoT) applications and augmented reality (AR) experiences; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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