Citigroup Issues Pessimistic Forecast for PTC (NASDAQ:PTC) Stock Price

PTC (NASDAQ:PTC) had its price target decreased by analysts at Citigroup from $185.00 to $181.00 in a report issued on Wednesday,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 17.93% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. Weiss Ratings cut PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Wall Street Zen raised shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Robert W. Baird set a $255.00 price target on shares of PTC in a research report on Wednesday, October 22nd. Oppenheimer decreased their price objective on shares of PTC from $240.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 target price on shares of PTC in a research note on Tuesday. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and an average target price of $201.77.

PTC Price Performance

PTC opened at $153.48 on Wednesday. PTC has a 1 year low of $133.38 and a 1 year high of $219.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $18.25 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 2.68 and a beta of 1.01. The firm’s fifty day moving average price is $172.00 and its two-hundred day moving average price is $191.29.

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

Insider Buying and Selling at PTC

In other news, EVP Kristian Talvitie sold 50,291 shares of PTC stock in a transaction 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 directly owned 12,386 shares in the company, valued at approximately $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 22,461 shares in the company, valued at $3,925,958.19. This trade represents a 21.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,277 shares of company stock worth $10,624,076. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PTC. Empowered Funds LLC boosted its stake in PTC by 3.1% during the first quarter. Empowered Funds LLC now owns 2,498 shares of the technology company’s stock valued at $387,000 after buying an additional 75 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of PTC by 34.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock valued at $46,000 after acquiring an additional 76 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of PTC by 26.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,372 shares of the technology company’s stock worth $769,000 after purchasing an additional 918 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of PTC in the second quarter worth approximately $255,000. Finally, Signaturefd LLC raised its stake in PTC by 47.9% in the second quarter. Signaturefd LLC now owns 1,693 shares of the technology company’s stock valued at $292,000 after purchasing an additional 548 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

About PTC

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.