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

PTC (NASDAQ:PTC) had its target price decreased by Citigroup from $195.00 to $187.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 9.61% from the stock’s current price.

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

PTC Stock Performance

Shares of NASDAQ:PTC traded down $4.36 during trading on Thursday, reaching $170.60. The company had a trading volume of 2,101,290 shares, compared to its average volume of 851,849. PTC has a fifty-two week low of $124.42 and a fifty-two week high of $194.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 1.19. The stock’s fifty day moving average price is $183.57 and its 200 day moving average price is $170.96. The firm has a market capitalization of $20.40 billion, a price-to-earnings ratio of 87.45, a price-to-earnings-growth ratio of 3.17 and a beta of 1.19.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $550.21 million during the quarter, compared to the consensus estimate of $538.59 million. PTC had a net margin of 10.86% and a return on equity of 12.87%. As a group, equities research analysts predict that PTC will post 3.47 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On PTC

A number of hedge funds have recently made changes to their positions in the stock. Legacy Financial Group LLC purchased a new position in PTC in the third quarter valued at about $28,000. Lindbrook Capital LLC boosted its holdings in PTC by 108.3% in the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after acquiring an additional 91 shares during the period. Riverview Trust Co acquired a new stake in PTC during the 1st quarter valued at $34,000. Resources Management Corp CT ADV lifted its holdings in PTC by 4,285.7% in the 3rd quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after buying an additional 300 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in PTC in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.