Mizuho Trims PTC (NASDAQ:PTC) Target Price to $200.00

PTC (NASDAQ:PTC) had its target price reduced by Mizuho from $210.00 to $200.00 in a report released on Thursday, Benzinga reports. Mizuho currently has a buy rating on the technology company’s stock.

Several other research analysts have also recently issued reports on the company. BMO Capital Markets increased their price target on PTC from $195.00 to $200.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upgraded shares of PTC from a neutral rating to an overweight rating and increased their target price for the company from $130.00 to $200.00 in a research report on Thursday, January 4th. Oppenheimer raised their target price on shares of PTC from $190.00 to $210.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Robert W. Baird reaffirmed an outperform rating and issued a $210.00 price target on shares of PTC in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $202.00 price objective on shares of PTC in a report on Thursday, February 1st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $200.64.

PTC Price Performance

Shares of NASDAQ:PTC opened at $175.77 on Thursday. The firm’s 50 day moving average is $183.30 and its two-hundred day moving average is $171.18. The firm has a market capitalization of $21.01 billion, a P/E ratio of 73.54, a PEG ratio of 3.05 and a beta of 1.19. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68. PTC has a 52 week low of $124.42 and a 52 week high of $194.24.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC boosted its position in shares of PTC by 1.0% in the first quarter. Mutual of America Capital Management LLC now owns 26,607 shares of the technology company’s stock worth $5,027,000 after buying an additional 261 shares during the period. Daiwa Securities Group Inc. boosted its position in PTC by 0.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 28,013 shares of the technology company’s stock worth $5,293,000 after acquiring an additional 243 shares during the period. Nordea Investment Management AB boosted its position in PTC by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 9,240 shares of the technology company’s stock worth $1,748,000 after acquiring an additional 322 shares during the period. Fidelis Capital Partners LLC grew its stake in PTC by 5.4% during the 1st quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $275,000 after acquiring an additional 74 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of PTC by 14.3% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,658 shares of the technology company’s stock valued at $691,000 after purchasing an additional 459 shares during the period. 95.14% of the stock is owned by hedge funds and other 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.