PTC (NASDAQ:PTC) Shares Gap Down Following Analyst Downgrade

PTC Inc. (NASDAQ:PTC)’s stock price gapped down prior to trading on Thursday after Mizuho lowered their price target on the stock from $210.00 to $200.00. The stock had previously closed at $174.96, but opened at $166.61. Mizuho currently has a buy rating on the stock. PTC shares last traded at $174.00, with a volume of 332,354 shares.

Several other research analysts have also weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 target price on shares of PTC in a report on Thursday, February 1st. Barclays boosted their price target on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Piper Sandler boosted their price target on PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. KeyCorp boosted their price target on PTC from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $202.00.

Insider Activity at PTC

In related news, insider Catherine Kniker sold 1,330 shares of PTC stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the sale, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the transaction, the chief executive officer now owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. 1.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On PTC

A number of institutional investors have recently bought and sold shares of the business. Coldstream Capital Management Inc. boosted its holdings in shares of PTC by 2.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,615 shares of the technology company’s stock worth $458,000 after acquiring an additional 55 shares during the period. Fifth Third Bancorp boosted its holdings in shares of PTC by 3.1% during the first quarter. Fifth Third Bancorp now owns 2,165 shares of the technology company’s stock worth $409,000 after acquiring an additional 65 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of PTC by 5.4% during the first quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock worth $275,000 after acquiring an additional 74 shares during the period. US Bancorp DE boosted its holdings in shares of PTC by 0.8% during the fourth quarter. US Bancorp DE now owns 9,931 shares of the technology company’s stock worth $1,738,000 after acquiring an additional 77 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of PTC by 4.7% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,797 shares of the technology company’s stock worth $314,000 after acquiring an additional 81 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Trading Down 0.0 %

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80. The company has a market cap of $20.91 billion, a P/E ratio of 88.81, a PEG ratio of 3.17 and a beta of 1.19. The business has a fifty day moving average price of $183.57 and a 200-day moving average price of $170.96.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The business had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. On average, analysts forecast that PTC Inc. will post 3.47 earnings per share for the current year.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.