Barclays Cuts PTC (NASDAQ:PTC) Price Target to $175.00

PTC (NASDAQ:PTC) had its price objective trimmed by Barclays from $215.00 to $175.00 in a report released on Monday, Marketbeat Ratings reports. The firm currently has an overweight rating on the technology company’s stock.

Several other research firms have also recently issued reports on PTC. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. KeyCorp upped their target price on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Citigroup lowered their price target on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Stifel Nicolaus upped their price objective on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and an average target price of $195.67.

PTC Stock Performance

Shares of PTC opened at $143.98 on Monday. PTC has a 1 year low of $133.38 and a 1 year high of $203.09. 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 stock’s fifty day moving average price is $157.62 and its two-hundred day moving average price is $177.85. The firm has a market cap of $17.32 billion, a PE ratio of 44.44, a PEG ratio of 2.27 and a beta of 1.17.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 forecast that PTC will post 4.46 EPS for the current year.

Insider Activity at PTC

In other PTC news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now directly owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. The trade was a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PTC

Several large investors have recently modified their holdings of PTC. T. Rowe Price Investment Management Inc. increased its stake in PTC by 11.4% during the 4th 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 purchasing an additional 1,773,653 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PTC by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company’s stock valued at $2,627,961,000 after acquiring an additional 240,080 shares in the last quarter. Geode Capital Management LLC raised its holdings in PTC by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock worth $555,626,000 after acquiring an additional 67,504 shares during the last quarter. Fernbridge Capital Management LP lifted its position in PTC by 6.0% in the 4th quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company’s stock valued at $278,484,000 after acquiring an additional 85,564 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in PTC by 11.0% during the 4th quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company’s stock valued at $241,472,000 after purchasing an additional 129,910 shares during the last quarter. Hedge funds and other 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.