PTC (NASDAQ:PTC) Hits New 1-Year Low – Here’s What Happened

PTC Inc. (NASDAQ:PTC)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $162.11 and last traded at $163.59, with a volume of 200293 shares changing hands. The stock had previously closed at $165.76.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PTC shares. KeyCorp increased their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Robert W. Baird increased their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada upped their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and cut their price target for the company from $210.00 to $196.00 in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Stock Down 2.5 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $19.45 billion, a P/E ratio of 49.89, a PEG ratio of 2.27 and a beta of 1.19. The firm’s fifty day moving average price is $182.89 and its 200-day moving average price is $183.14.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, equities research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Activity at PTC

In related news, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the completion of the sale, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at $11,389,091.56. This represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corinna Lathan sold 860 shares of PTC stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the transaction, the director now owns 6,843 shares in the company, valued at approximately $1,368,600. This trade represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,539 shares of company stock valued at $3,301,697 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PTC

A number of hedge funds have recently added to or reduced their stakes in PTC. Aster Capital Management DIFC Ltd acquired a new stake in shares of PTC in the 4th quarter valued at $30,000. Covestor Ltd raised its holdings in PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 80 shares in the last quarter. Allworth Financial LP lifted its position in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in shares of PTC during the 4th quarter worth about $47,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of PTC during the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

About PTC

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.