PTC (NASDAQ:PTC) Earns “Buy” Rating from Rosenblatt Securities

PTC (NASDAQ:PTC)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They presently have a $204.00 price objective on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 27.43% from the stock’s current price.

PTC has been the subject of several other research reports. Mizuho cut their price target on PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Barclays reduced their target price on shares of PTC from $215.00 to $175.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Oppenheimer lowered their price target on shares of PTC from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Robert W. Baird boosted their price objective on PTC from $181.00 to $185.00 and gave the stock an “outperform” rating in a report on Tuesday, April 22nd. Finally, KeyCorp lowered their target price on PTC from $211.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, PTC has an average rating of “Moderate Buy” and a consensus price target of $187.15.

PTC Price Performance

Shares of PTC opened at $160.09 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC has a twelve month low of $133.38 and a twelve month high of $203.09. The stock has a market capitalization of $19.26 billion, a P/E ratio of 49.41, a P/E/G ratio of 2.27 and a beta of 1.17. The company has a 50 day moving average of $153.51 and a 200-day moving average of $175.38.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.42. The firm had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. As a group, equities research analysts forecast that PTC will post 4.46 EPS for the current fiscal year.

Insider Transactions at PTC

In related news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. This trade represents a 7.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bartlett & CO. Wealth Management LLC acquired a new position in shares of PTC during the 1st quarter worth $26,000. Aster Capital Management DIFC Ltd bought a new position in PTC in the fourth quarter valued at about $30,000. Allworth Financial LP raised its stake in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of PTC by 153.4% in the first quarter. UMB Bank n.a. now owns 294 shares of the technology company’s stock worth $46,000 after acquiring an additional 178 shares during the last quarter. Finally, Pinney & Scofield Inc. acquired a new stake in shares of PTC in the 4th quarter valued at approximately $47,000. 95.14% of the stock is currently owned by institutional investors.

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.