PTC (NASDAQ:PTC) Price Target Lowered to $181.00 at Citigroup

PTC (NASDAQ:PTC) had its price objective reduced by Citigroup from $185.00 to $181.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective would suggest a potential upside of 11.71% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price target on shares of PTC in a research note on Tuesday. Weiss Ratings downgraded shares of PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Wall Street Zen upgraded PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Robert W. Baird set a $255.00 price target on shares of PTC in a report on Wednesday, October 22nd. Finally, BMO Capital Markets cut their target price on PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.77.

PTC Price Performance

Shares of PTC stock traded down $2.61 on Wednesday, hitting $162.03. 240,556 shares of the company traded hands, compared to its average volume of 793,014. The company has a market cap of $19.27 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.76 and a beta of 1.01. PTC has a 12-month low of $133.38 and a 12-month high of $219.69. The firm’s 50-day simple moving average is $172.54 and its 200 day simple moving average is $191.77. 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 announced its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 earnings per share for the quarter. The firm had revenue of $1.76 billion during the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%. Analysts expect that PTC will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kristian Talvitie sold 50,291 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total value of $8,707,383.74. Following the transaction, the executive vice president owned 12,386 shares of the company’s stock, valued at $2,144,512.04. This represents a 80.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 6,328 shares of PTC stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the sale, the executive vice president owned 22,461 shares in the company, valued at $3,925,958.19. This represents a 21.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 61,277 shares of company stock worth $10,624,076. 0.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PTC. Norges Bank purchased a new stake in shares of PTC during the second quarter valued at approximately $155,673,000. CCLA Investment Management purchased a new stake in PTC during the 2nd quarter worth $94,629,000. Voloridge Investment Management LLC boosted its position in PTC by 856.8% in the 3rd quarter. Voloridge Investment Management LLC now owns 465,814 shares of the technology company’s stock valued at $94,570,000 after buying an additional 417,130 shares during the last quarter. Vanguard Group Inc. increased its position in shares of PTC by 2.9% during the second quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after acquiring an additional 416,791 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of PTC by 31.4% in the second quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock worth $266,715,000 after acquiring an additional 370,097 shares in the last quarter. 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.