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

PTC (NASDAQ:PTC - Free Report) had its target price lowered by Citigroup from $195.00 to $187.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the technology company's stock.

A number of other research analysts have also commented on the stock. Barclays upped their price objective on shares of PTC from $198.00 to $215.00 and gave the company an overweight rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. upgraded PTC from a neutral rating to an overweight rating and raised their price objective for the stock from $130.00 to $200.00 in a research report on Thursday, January 4th. Piper Sandler boosted their price objective on PTC from $155.00 to $177.00 and gave the company a neutral rating in a research report on Tuesday, January 9th. BMO Capital Markets upped their target price on PTC from $195.00 to $200.00 and gave the company an outperform rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada reiterated an outperform rating and set a $202.00 price target on shares of PTC in a research note on Thursday, February 1st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $200.64.

PTC Stock Performance

Shares of PTC stock traded down $4.36 during trading hours on Thursday, reaching $170.60. 2,101,413 shares of the company's stock were exchanged, compared to its average volume of 857,120. PTC has a fifty-two week low of $124.42 and a fifty-two week high of $194.24. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $20.40 billion, a P/E ratio of 86.60, a P/E/G ratio of 3.17 and a beta of 1.19. The business has a fifty day moving average price of $183.40 and a 200-day moving average price of $170.96.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The business had revenue of $550.21 million for the quarter, compared to analyst estimates of $538.59 million. Analysts predict that PTC will post 3.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the sale, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the firm's stock in a transaction dated Monday, February 5th. The shares were 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 owns 968,357 shares in the company, valued at approximately $171,631,594.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Catherine Kniker sold 1,330 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares of the company's stock, valued at $2,489,835.76. The disclosure for this sale can be found here. Insiders own 1.17% of the company's stock.

Institutional Trading of PTC

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

About PTC

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.