PTC (NASDAQ:PTC) Downgraded by Wolfe Research to Peer Perform

Key Points

• Wolfe Research downgraded PTC from “outperform” to “peer perform.” Across analysts, the consensus rating is “hold,” with an average price target of $200.06.
• PTC reported quarterly EPS of $2.03, beating the $1.97 estimate, and revenue of $673.25 million, above expectations. However, revenue fell 24.7% year over year.
• PTC shares opened at $196.14, near their 12-month high of $196.79.

PTC (NASDAQ:PTC - Get Free Report) was downgraded by research analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a note issued to investors on Thursday, MarketBeat reports.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus set a $205.00 target price on PTC in a research report on Monday, October 5th. JPMorgan Chase & Co. upgraded PTC from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $145.00 to $205.00 in a research report on Monday, October 5th. Mizuho upped their price objective on shares of PTC from $160.00 to $205.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 6th. Deutsche Bank downgraded shares of PTC to a "hold" rating and set a $205.00 target price on the stock. in a research note on Monday, October 5th. Finally, Weiss Ratings upgraded shares of PTC from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $200.06.

PTC Trading Down 0.2%

Shares of PTC opened at $196.14 on Thursday. PTC has a twelve month low of $108.50 and a twelve month high of $196.79. The stock has a market cap of $21.28 billion, a PE ratio of 22.19, a P/E/G ratio of 2.58 and a beta of 0.93. The company has a quick ratio of 1.03, a current ratio of 1.63 and a debt-to-equity ratio of 0.47. The business's 50-day moving average price is $169.43 and its 200-day moving average price is $148.61.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, November 4th. The technology company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.06. PTC had a net margin of 37.80% and a return on equity of 20.03%. The business had revenue of $673.25 million for the quarter, compared to analysts' expectations of $663.56 million. During the same period in the prior year, the company posted $3.41 EPS. The business's revenue for the quarter was down 24.7% compared to the same quarter last year. On average, equities analysts forecast that PTC will post 7.12 EPS for the current fiscal year.

Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 1,750 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $195.75, for a total transaction of $342,562.50. Following the transaction, the director directly owned 6,679 shares in the company, valued at $1,307,414.25. This trade represents a 20.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On PTC

A number of hedge funds have recently made changes to their positions in the business. State Street Corp raised its position in PTC by 10.2% in the 2nd quarter. State Street Corp now owns 6,452,323 shares of the technology company's stock worth $733,048,000 after purchasing an additional 596,955 shares during the period. Jupiter Topco LLC purchased a new position in PTC in the 2nd quarter worth approximately $418,553,000. Janus Henderson Group PLC lifted its position in PTC by 0.3% in the first quarter. Janus Henderson Group PLC now owns 3,530,070 shares of the technology company's stock valued at $503,000,000 after purchasing an additional 11,278 shares during the last quarter. Amundi boosted its stake in shares of PTC by 151.9% during the first quarter. Amundi now owns 1,725,555 shares of the technology company's stock valued at $245,885,000 after purchasing an additional 1,040,656 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of PTC by 52.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,228,905 shares of the technology company's stock valued at $172,415,000 after purchasing an additional 423,096 shares during the period. 95.14% of the stock is currently owned by institutional investors.

About PTC

PTC Inc. develops software that helps manufacturers design, build, operate and service products. Its offerings support computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management and industrial connectivity, helping companies manage product data and coordinate work across engineering and manufacturing. PTC's products include Creo for 3D CAD, Windchill for PLM, Codebeamer for application lifecycle management, and ThingWorx for industrial connectivity and application development.

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