PTC (NASDAQ:PTC) Downgraded by JPMorgan Chase & Co. to “Underweight”

PTC (NASDAQ:PTC) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Monday, MarketBeat reports. They currently have a $162.00 target price on the technology company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 3.76% from the company’s previous close.

A number of other research analysts have also commented on the company. BMO Capital Markets cut their target price on PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Robert W. Baird set a $255.00 price objective on shares of PTC in a research note on Wednesday, October 22nd. Weiss Ratings lowered PTC from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Citigroup cut their price target on PTC from $185.00 to $181.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 28th. Finally, Oppenheimer decreased their target price on shares of PTC from $240.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.92.

PTC Stock Performance

PTC stock opened at $156.13 on Monday. The stock’s 50 day moving average price is $171.68 and its 200 day moving average price is $191.02. PTC has a one year low of $133.38 and a one year high of $219.69. The firm has a market capitalization of $18.57 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43.

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

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 6,328 shares of PTC stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $174.79, for a total value of $1,106,071.12. Following the completion of the sale, the executive vice president directly owned 22,461 shares in the company, valued at $3,925,958.19. The trade was a 21.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $8,707,383.74. Following the completion of the sale, the executive vice president directly owned 12,386 shares of the company’s stock, valued at approximately $2,144,512.04. This trade represents a 80.24% 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 valued at $10,624,076. 0.29% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in PTC by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock valued at $2,541,838,000 after acquiring an additional 416,791 shares during the period. State Street Corp grew its holdings in shares of PTC by 4.1% during the third quarter. State Street Corp now owns 5,593,645 shares of the technology company’s stock worth $1,135,622,000 after buying an additional 221,349 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of PTC by 8.4% in the second quarter. Geode Capital Management LLC now owns 3,415,785 shares of the technology company’s stock valued at $586,438,000 after acquiring an additional 265,558 shares in the last quarter. Standard Investments LLC boosted its stake in shares of PTC by 10.4% in the third quarter. Standard Investments LLC now owns 1,586,000 shares of the technology company’s stock valued at $321,990,000 after buying an additional 150,000 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in PTC by 31.4% during the second quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock worth $266,715,000 after buying an additional 370,097 shares during the period. 95.14% of the stock is owned by institutional investors.

PTC Company Profile

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.