PTC (NASDAQ:PTC) Price Target Cut to $187.00 by Analysts at Citigroup

PTC (NASDAQ:PTC) had its price target dropped by analysts at Citigroup from $195.00 to $187.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s price target indicates a potential upside of 6.39% from the stock’s current price.

PTC has been the subject of a number of other reports. Mizuho reduced their target price on shares of PTC from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday. Barclays increased their target price on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised shares of PTC from a “neutral” rating to an “overweight” rating and increased their target price for the company from $130.00 to $200.00 in a research report on Thursday, January 4th. Oppenheimer increased their target price on shares of PTC from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets increased their target price on shares of PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and a consensus target price of $200.64.

PTC Stock Up 3.0 %

PTC stock traded up $5.17 during trading on Thursday, reaching $175.77. The stock had a trading volume of 1,491,232 shares, compared to its average volume of 866,022. PTC has a one year low of $124.42 and a one year high of $194.24. The company has a quick ratio of 1.19, a current ratio of 1.32 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $183.30 and its two-hundred day moving average is $171.18. The company has a market capitalization of $21.01 billion, a price-to-earnings ratio of 73.54, a P/E/G ratio of 3.05 and a beta of 1.19.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. PTC had a net margin of 12.84% and a return on equity of 13.76%. The business had revenue of $550.21 million during the quarter, compared to the consensus estimate of $538.59 million. Equities research analysts forecast that PTC will post 3.47 EPS for the current year.

Insiders Place Their Bets

In other PTC news, insider Catherine Kniker sold 1,330 shares of the 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 directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the sale, 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 SEC, which is accessible through this link. Also, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction 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. Corporate insiders own 1.17% of the company’s stock.

Institutional Trading of PTC

Several institutional investors and hedge funds have recently made changes to their positions in PTC. Vanguard Group Inc. grew its holdings in shares of PTC by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after purchasing an additional 859,227 shares during the last quarter. Invesco Ltd. grew its holdings in shares of PTC by 5.8% during the 3rd quarter. Invesco Ltd. now owns 2,494,767 shares of the technology company’s stock valued at $353,459,000 after purchasing an additional 137,100 shares during the last quarter. FMR LLC grew its holdings in shares of PTC by 6.0% during the 3rd quarter. FMR LLC now owns 1,989,152 shares of the technology company’s stock valued at $281,823,000 after purchasing an additional 113,037 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after purchasing an additional 1,569,081 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of PTC by 15.6% during the 3rd quarter. Northern Trust Corp now owns 1,252,741 shares of the technology company’s stock valued at $177,488,000 after purchasing an additional 168,917 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About PTC

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.