PTC’s (PTC) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of PTC (NASDAQ:PTC) in a report released on Tuesday,Benzinga reports. The firm currently has a $220.00 price target on the technology company’s stock.

Several other research firms have also commented on PTC. Zacks Research lowered PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Robert W. Baird set a $255.00 target price on shares of PTC in a research note on Wednesday, October 22nd. Wall Street Zen upgraded shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Weiss Ratings downgraded shares of PTC from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Finally, Piper Sandler reduced their price target on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, PTC has an average rating of “Moderate Buy” and an average price target of $201.77.

PTC Trading Down 5.2%

PTC opened at $153.48 on Tuesday. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 2.68 and a beta of 1.01. The company’s 50 day simple moving average is $172.00 and its two-hundred day simple moving average is $191.29. PTC has a 1-year low of $133.38 and a 1-year high of $219.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.43 and a quick ratio of 1.43.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%.The business had revenue of $1.76 billion during the quarter. Analysts expect that PTC will post 4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the completion of the transaction, the executive vice president directly owned 22,461 shares in the company, valued at $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kristian Talvitie sold 50,291 shares of PTC stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the sale, the executive vice president directly owned 12,386 shares of the company’s stock, valued at $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,277 shares of company stock worth $10,624,076 over the last 90 days. 0.29% of the stock is owned by insiders.

Institutional Trading of PTC

Large investors have recently made changes to their positions in the company. Inscription Capital LLC purchased a new position in PTC in the fourth quarter worth approximately $380,000. Verdence Capital Advisors LLC lifted its position in shares of PTC by 2.9% during the 4th quarter. Verdence Capital Advisors LLC now owns 5,232 shares of the technology company’s stock worth $911,000 after purchasing an additional 148 shares during the last quarter. Calamos Wealth Management LLC grew its stake in shares of PTC by 17.3% during the fourth quarter. Calamos Wealth Management LLC now owns 1,920 shares of the technology company’s stock worth $334,000 after purchasing an additional 283 shares in the last quarter. Rakuten Securities Inc. increased its holdings in PTC by 2,725.0% in the fourth quarter. Rakuten Securities Inc. now owns 226 shares of the technology company’s stock valued at $39,000 after buying an additional 218 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its stake in PTC by 5.7% in the fourth quarter. Peregrine Capital Management LLC now owns 87,448 shares of the technology company’s stock valued at $15,234,000 after buying an additional 4,719 shares in the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.