BMO Capital Markets Has Lowered Expectations for PTC (NASDAQ:PTC) Stock Price

PTC (NASDAQ:PTC) had its price target cut by BMO Capital Markets from $220.00 to $183.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price target points to a potential upside of 27.47% from the company’s current price.

Several other research analysts also recently issued reports on PTC. Barclays dropped their target price on shares of PTC from $215.00 to $175.00 and set an “overweight” rating on the stock in a research note on Monday. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Mizuho reduced their target price on PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday. Stifel Nicolaus upped their price target on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.67.

PTC Stock Performance

Shares of PTC opened at $143.56 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock has a market cap of $17.27 billion, a P/E ratio of 44.31, a P/E/G ratio of 2.27 and a beta of 1.17. The business’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.

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

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 622 shares of the company’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 completion of the sale, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. This represents a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

Hedge funds have recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of PTC by 5.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company’s stock valued at $39,212,000 after buying an additional 9,893 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after purchasing an additional 135,677 shares in the last quarter. Oak Thistle LLC bought a new position in shares of PTC in the fourth quarter worth approximately $1,113,000. Proficio Capital Partners LLC purchased a new stake in shares of PTC in the fourth quarter worth $8,858,000. Finally, Avantax Advisory Services Inc. bought a new stake in shares of PTC during the 4th quarter valued at $223,000. Institutional investors own 95.14% of the company’s stock.

PTC Company Profile

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.