PTC (NASDAQ:PTC) Earns “Buy” Rating from Rosenblatt Securities

PTC (NASDAQ:PTC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Rosenblatt Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $220.00 price objective on the technology company’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 35.88% from the stock’s current price.

PTC has been the subject of a number of other research reports. Zacks Research lowered shares of PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Robert W. Baird set a $255.00 price target on shares of PTC in a research note on Wednesday, October 22nd. Weiss Ratings downgraded shares of PTC from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Wall Street Zen upgraded PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Finally, BMO Capital Markets decreased their target price on PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.77.

PTC Stock Performance

NASDAQ:PTC opened at $161.91 on Tuesday. The stock has a 50-day moving average price of $172.34 and a 200 day moving average price of $191.56. The stock has a market capitalization of $19.25 billion, a P/E ratio of 26.37, a P/E/G ratio of 2.74 and a beta of 1.01. PTC has a 12-month low of $133.38 and a 12-month high of $219.69. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%.The company had revenue of $1.76 billion for the quarter. Equities research analysts forecast that PTC will post 4.46 EPS for the current fiscal year.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $174.79, for a total value of $1,106,071.12. Following the completion of the sale, the executive vice president directly owned 22,461 shares of the company’s stock, valued at $3,925,958.19. This trade represents a 21.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kristian Talvitie sold 50,291 shares of PTC stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the transaction, the executive vice president owned 12,386 shares of the company’s stock, valued at approximately $2,144,512.04. This trade represents a 80.24% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 61,277 shares of company stock valued at $10,624,076. 0.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PTC. Norges Bank bought a new stake in shares of PTC during the 2nd quarter worth approximately $155,673,000. CCLA Investment Management purchased a new stake in PTC in the second quarter worth $94,629,000. Voloridge Investment Management LLC increased its stake in PTC by 856.8% in the third quarter. Voloridge Investment Management LLC now owns 465,814 shares of the technology company’s stock worth $94,570,000 after purchasing an additional 417,130 shares during the period. Vanguard Group Inc. lifted its position in shares of PTC by 2.9% during the second quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after purchasing an additional 416,791 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of PTC by 31.4% during the second quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock valued at $266,715,000 after purchasing an additional 370,097 shares during the period. Institutional investors own 95.14% of the company’s stock.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.