PTC (NASDAQ:PTC) Reaches New 1-Year Low – Should You Sell?

PTC Inc. (NASDAQ:PTC)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $126.63 and last traded at $137.1150, with a volume of 529 shares changing hands. The stock had previously closed at $136.53.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PTC. Stifel Nicolaus set a $180.00 target price on PTC in a research report on Thursday, February 5th. Oppenheimer reduced their price target on PTC from $240.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 28th. Wall Street Zen upgraded PTC from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Citigroup lowered their price objective on shares of PTC from $166.00 to $146.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered shares of PTC from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $205.00 to $162.00 in a research note on Monday, February 2nd. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.54.

PTC Stock Down 0.5%

The firm has a 50 day moving average price of $146.69 and a two-hundred day moving average price of $164.45. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 2.40 and a beta of 0.98.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, February 4th. The technology company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.59 by $0.33. The business had revenue of $685.83 million for the quarter, compared to analysts’ expectations of $635.44 million. PTC had a return on equity of 24.63% and a net margin of 28.86%.During the same quarter in the previous year, the firm posted $1.10 earnings per share. The company’s revenue was up 21.4% compared to the same quarter last year. As a group, sell-side analysts expect that PTC Inc. will post 6.13 earnings per share for the current year.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 675 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $157.24, for a total transaction of $106,137.00. Following the completion of the sale, the director owned 8,429 shares of the company’s stock, valued at approximately $1,325,375.96. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 240 shares of PTC stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $161.10, for a total transaction of $38,664.00. Following the completion of the sale, the executive vice president owned 22,221 shares of the company’s stock, valued at approximately $3,579,803.10. This trade represents a 1.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PTC. T. Rowe Price Investment Management Inc. lifted its position in shares of PTC by 3.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 18,384,246 shares of the technology company’s stock worth $3,202,720,000 after purchasing an additional 602,858 shares during the last quarter. State Street Corp increased its holdings in PTC by 5.6% in the fourth quarter. State Street Corp now owns 5,905,645 shares of the technology company’s stock valued at $1,028,822,000 after buying an additional 312,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in PTC by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,570,540 shares of the technology company’s stock valued at $619,901,000 after buying an additional 71,181 shares during the last quarter. Janus Henderson Group PLC raised its stake in PTC by 0.9% during the fourth quarter. Janus Henderson Group PLC now owns 3,518,792 shares of the technology company’s stock valued at $613,009,000 after buying an additional 32,508 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in PTC by 17.8% during the first quarter. Pictet Asset Management Holding SA now owns 3,505,930 shares of the technology company’s stock valued at $499,525,000 after buying an additional 529,208 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

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.