Rosenblatt Securities Reiterates Buy Rating for PTC (NASDAQ:PTC)

PTC (NASDAQ:PTC)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a research report issued on Tuesday,Benzinga reports. They presently have a $220.00 target price on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 32.71% from the company’s current price.

PTC has been the subject of several other research reports. Robert W. Baird set a $255.00 price objective on PTC in a report on Wednesday, October 22nd. BMO Capital Markets lowered their price objective on shares of PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Wall Street Zen upgraded shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Piper Sandler dropped 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. Finally, Weiss Ratings lowered PTC from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $205.92.

PTC Trading Up 2.2%

PTC opened at $165.77 on Tuesday. The company has a fifty day moving average price of $172.71 and a two-hundred day moving average price of $191.97. PTC has a 1-year low of $133.38 and a 1-year high of $219.69. The company has a market cap of $19.71 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31.

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

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 6,328 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total value of $1,106,071.12. Following the transaction, the executive vice president owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. The trade was a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristian Talvitie sold 50,291 shares of the firm’s 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 sale, the executive vice president directly owned 12,386 shares of the company’s stock, valued at approximately $2,144,512.04. This represents a 80.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,277 shares of company stock worth $10,624,076 in the last 90 days. Company insiders own 0.29% of the company’s stock.

Institutional Trading of PTC

Large investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its holdings in PTC by 13.4% during the second quarter. Daiwa Securities Group Inc. now owns 74,128 shares of the technology company’s stock valued at $12,775,000 after purchasing an additional 8,786 shares during the last quarter. O ROURKE & COMPANY Inc purchased a new position in shares of PTC in the second quarter worth about $258,000. Nisa Investment Advisors LLC raised its position in shares of PTC by 35.7% in the second quarter. Nisa Investment Advisors LLC now owns 28,678 shares of the technology company’s stock valued at $4,942,000 after purchasing an additional 7,546 shares during the period. ARK Investment Management LLC lifted its stake in shares of PTC by 18.5% during the 2nd quarter. ARK Investment Management LLC now owns 19,024 shares of the technology company’s stock valued at $3,279,000 after buying an additional 2,965 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in PTC by 2,075.2% in the 3rd quarter. Nordea Investment Management AB now owns 213,911 shares of the technology company’s stock worth $43,420,000 after buying an additional 204,077 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

About PTC

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.