Citigroup Trims PTC (NASDAQ:PTC) Target Price to $187.00

PTC (NASDAQ:PTC) had its price target cut by Citigroup from $195.00 to $187.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other research analysts have also commented on the stock. Rosenblatt Securities reiterated a buy rating and set a $195.00 price objective on shares of PTC in a research note on Friday, April 12th. Piper Sandler raised their target price on shares of PTC from $155.00 to $177.00 and gave the stock a neutral rating in a research note on Tuesday, January 9th. Barclays raised their target price on PTC from $198.00 to $215.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. KeyCorp raised their price target on PTC from $190.00 to $205.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Finally, Oppenheimer increased their price objective on PTC from $190.00 to $210.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $200.64.

PTC Price Performance

Shares of PTC stock traded up $5.17 during trading hours on Thursday, hitting $175.77. The company’s stock had a trading volume of 1,491,232 shares, compared to its average volume of 866,022. The company has a market cap of $21.01 billion, a PE ratio of 73.54, a PEG ratio of 3.05 and a beta of 1.19. The business has a 50 day moving average price of $183.30 and a two-hundred day moving average price of $171.18. PTC has a 12-month low of $124.42 and a 12-month high of $194.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.19 and a current ratio of 1.32.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $550.21 million for the quarter, compared to analyst estimates of $538.59 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. Analysts expect that PTC will post 3.47 earnings per share for the current fiscal year.

Insider Activity

In other PTC news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the sale, the insider now owns 13,864 shares in the company, valued at $2,489,835.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now owns 968,357 shares in the company, valued at approximately $171,631,594.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Catherine Kniker sold 1,330 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the sale, the insider now owns 13,864 shares in the company, valued at approximately $2,489,835.76. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Chevy Chase Trust Holdings LLC increased its position in PTC by 9.0% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 66,798 shares of the technology company’s stock worth $9,464,000 after buying an additional 5,521 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in PTC by 23.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 6,221 shares of the technology company’s stock valued at $881,000 after buying an additional 1,167 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in PTC by 2.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 41,765 shares of the technology company’s stock valued at $5,917,000 after purchasing an additional 1,112 shares during the period. Xponance Inc. lifted its stake in PTC by 9.7% in the third quarter. Xponance Inc. now owns 21,765 shares of the technology company’s stock valued at $3,084,000 after buying an additional 1,928 shares in the last quarter. Finally, Legacy Financial Group LLC bought a new stake in PTC during the 3rd quarter worth about $28,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.