Equities researchers at Loop Capital started coverage on shares of PTC (NASDAQ:PTC) in a report released on Tuesday, The Fly reports. The brokerage set a “buy” rating on the technology company’s stock.
PTC has been the topic of a number of other research reports. Rosenblatt Securities boosted their price objective on PTC from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Citigroup boosted their price target on PTC from $91.00 to $96.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Bank of America assumed coverage on PTC in a research note on Wednesday, May 27th. They issued a “buy” rating for the company. Stifel Nicolaus upgraded shares of PTC from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $100.00 in a report on Thursday, July 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of PTC in a report on Thursday, July 9th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $99.50.
Shares of PTC stock traded up $2.92 during midday trading on Tuesday, hitting $88.32. 780,270 shares of the company traded hands, compared to its average volume of 886,441. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 117.76, a PEG ratio of 1.52 and a beta of 1.20. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.27 and a current ratio of 1.27. The firm’s fifty day moving average price is $87.34 and its 200-day moving average price is $74.49. PTC has a 12 month low of $43.90 and a 12 month high of $97.67.
In related news, CEO James E. Heppelmann sold 15,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $86.28, for a total value of $1,294,200.00. Following the transaction, the chief executive officer now owns 622,572 shares in the company, valued at $53,715,512.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Corinna Lathan sold 1,667 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $87.24, for a total transaction of $145,429.08. Over the last ninety days, insiders sold 16,917 shares of company stock worth $1,460,507. Insiders own 10.13% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Copper Rock Capital Partners LLC acquired a new position in PTC in the second quarter valued at approximately $434,624,000. Victory Capital Management Inc. lifted its position in shares of PTC by 5,668.1% during the 2nd quarter. Victory Capital Management Inc. now owns 959,068 shares of the technology company’s stock valued at $74,606,000 after acquiring an additional 942,441 shares during the period. Nordea Investment Management AB lifted its position in shares of PTC by 112.8% during the 2nd quarter. Nordea Investment Management AB now owns 1,481,388 shares of the technology company’s stock valued at $113,400,000 after acquiring an additional 785,283 shares during the period. Pictet Asset Management Ltd. boosted its stake in PTC by 23.3% during the first quarter. Pictet Asset Management Ltd. now owns 3,277,124 shares of the technology company’s stock worth $200,593,000 after acquiring an additional 618,269 shares in the last quarter. Finally, Praesidium Investment Management Company LLC grew its holdings in PTC by 18.6% in the first quarter. Praesidium Investment Management Company LLC now owns 2,955,841 shares of the technology company’s stock worth $180,927,000 after purchasing an additional 462,569 shares during the period. 88.37% of the stock is owned by institutional investors and hedge funds.
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; 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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