PTC (NASDAQ:PTC) Price Target Cut to $200.00

PTC (NASDAQ:PTC) had its price target dropped by equities research analysts at Mizuho from $210.00 to $200.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Mizuho’s price target would indicate a potential upside of 13.79% from the stock’s current price.

Several other analysts have also issued reports on the stock. Piper Sandler raised their price target on shares of PTC from $155.00 to $177.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Royal Bank of Canada reissued an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday, February 1st. JPMorgan Chase & Co. raised PTC from a “neutral” rating to an “overweight” rating and upped their price target for the company from $130.00 to $200.00 in a report on Thursday, January 4th. KeyCorp boosted their price objective on PTC from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and an average target price of $200.64.

PTC Stock Performance

PTC opened at $175.77 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $183.30 and its two-hundred day moving average price is $171.18. The firm has a market capitalization of $21.01 billion, a P/E ratio of 73.54, a price-to-earnings-growth ratio of 3.05 and a beta of 1.19. PTC has a 12-month low of $124.42 and a 12-month high of $194.24.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. PTC had a net margin of 12.84% and a return on equity of 13.76%. The business had revenue of $550.21 million for the quarter, compared to the consensus estimate of $538.59 million. On average, equities analysts forecast that PTC will post 3.47 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in PTC by 1,409.3% in the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after purchasing an additional 1,569,081 shares during the last quarter. Twin Focus Capital Partners LLC bought a new stake in shares of PTC during the fourth quarter worth $177,081,000. Vanguard Group Inc. lifted its stake in shares of PTC by 6.6% during the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after acquiring an additional 859,227 shares during the period. Norges Bank bought a new position in PTC in the fourth quarter valued at about $114,043,000. Finally, Balyasny Asset Management L.P. increased its position in PTC by 173.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock worth $95,050,000 after purchasing an additional 344,853 shares during the period. 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.