PTC (NASDAQ:PTC) Price Target Lowered to $185.00 at KeyCorp

PTC (NASDAQ:PTC) had its target price lowered by analysts at KeyCorp from $211.00 to $185.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target would indicate a potential upside of 28.87% from the stock’s current price.

PTC has been the subject of several other reports. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Citigroup decreased their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Stifel Nicolaus increased their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $204.00 target price on shares of PTC in a research report on Tuesday, February 4th. Finally, Mizuho lowered their price target on PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $195.67.

PTC Trading Down 0.3 %

Shares of NASDAQ PTC opened at $143.56 on Wednesday. The firm’s 50 day moving average price is $157.12 and its 200-day moving average price is $177.59. PTC has a 52-week low of $133.38 and a 52-week high of $203.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $17.27 billion, a PE ratio of 44.31, a P/E/G ratio of 2.27 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. On average, equities research analysts expect that PTC will post 4.46 EPS for the current fiscal year.

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now directly owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its position in shares of PTC by 11.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock valued at $3,174,432,000 after acquiring an additional 1,773,653 shares in the last quarter. Raymond James Financial Inc. bought a new stake in PTC during the 4th quarter valued at approximately $146,712,000. Norges Bank purchased a new position in PTC in the 4th quarter worth approximately $128,852,000. GAMMA Investing LLC grew its holdings in PTC by 13,184.0% during the 1st quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company’s stock valued at $53,517,000 after buying an additional 342,784 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of PTC during the fourth quarter valued at approximately $59,506,000. Institutional investors 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.