BidaskClub Lowers PTC (NASDAQ:PTC) to Buy
Several other brokerages have also commented on PTC. TheStreet raised PTC from a c+ rating to a b- rating in a research note on Monday, February 25th. ValuEngine lowered PTC from a strong-buy rating to a buy rating in a research note on Monday, April 29th. Evercore ISI reaffirmed a buy rating and issued a $110.00 price target on shares of PTC in a research note on Sunday, April 28th. Mizuho initiated coverage on PTC in a report on Thursday, April 11th. They issued a buy rating and a $120.00 price objective on the stock. Finally, Deutsche Bank cut their price objective on PTC from $115.00 to $110.00 and set a buy rating on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $102.71.
NASDAQ PTC opened at $88.85 on Thursday. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of 83.82, a P/E/G ratio of 2.62 and a beta of 1.21. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. PTC has a fifty-two week low of $76.67 and a fifty-two week high of $107.44.
In other PTC news, insider James E. Heppelmann sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $89.02, for a total transaction of $1,335,300.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 16,050 shares of company stock worth $1,431,766. 9.91% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. M&T Bank Corp boosted its position in shares of PTC by 3.6% in the fourth quarter. M&T Bank Corp now owns 5,110 shares of the technology company’s stock valued at $423,000 after acquiring an additional 179 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of PTC in the fourth quarter valued at approximately $361,000. Oregon Public Employees Retirement Fund boosted its position in shares of PTC by 8,190.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,497,800 shares of the technology company’s stock valued at $42,000 after acquiring an additional 3,455,607 shares during the period. Penserra Capital Management LLC boosted its position in shares of PTC by 189.4% in the fourth quarter. Penserra Capital Management LLC now owns 1,366 shares of the technology company’s stock valued at $112,000 after acquiring an additional 894 shares during the period. Finally, Nissay Asset Management Corp Japan ADV bought a new position in shares of PTC in the fourth quarter valued at approximately $2,353,000. 92.50% of the stock is owned by institutional investors and hedge funds.
PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.
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