PTC (NASDAQ:PTC) Reaches New 52-Week High - What's Next?

Key Points

• PTC shares hit a 52-week high, reaching $196.05 and last trading at $195.69.
• Analyst sentiment remains cautious: the consensus rating is Hold, with a $200.06 average price target.
• Quarterly EPS of $2.03 and revenue of $673.25 million beat estimates, but revenue fell 24.7% year over year.

PTC Inc. (NASDAQ:PTC - Get Free Report) shares reached a new 52-week high during trading on Monday. The stock traded as high as $196.05 and last traded at $195.69, with a volume of 720,064 shares traded. The stock had previously closed at $195.07.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PTC shares. Royal Bank Of Canada downgraded shares of PTC from a "buy" rating to a "sector perform" rating and upped their price objective for the stock from $195.00 to $306.00 in a research report on Monday, October 5th. Loop Capital downgraded shares of PTC from a "buy" rating to a "hold" rating and lifted their target price for the company from $200.00 to $205.00 in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft cut shares of PTC to a "hold" rating and set a $205.00 price target for the company. in a report on Monday, October 5th. JPMorgan Chase & Co. upgraded shares of PTC from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $145.00 to $205.00 in a research report on Monday, October 5th. Finally, Citigroup lifted their price objective on PTC from $141.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $200.06.

PTC Stock Performance

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 company has a 50 day moving average of $166.98 and a 200 day moving average of $148.11. The firm has a market cap of $21.23 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.56 and a beta of 0.93.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The technology company reported $2.03 earnings per share (EPS) for the quarter, beating 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 company had revenue of $673.25 million during the quarter, compared to the consensus estimate of $663.56 million. During the same quarter in the previous year, the company posted $3.41 earnings per share. The company's revenue for the quarter was down 24.7% compared to the same quarter last year. As a group, equities research analysts expect that PTC Inc. will post 7.12 EPS for the current fiscal year.

Insider Activity

In related news, Director Corinna Lathan sold 1,750 shares of the business's stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the sale, the director directly owned 6,679 shares in the company, valued at approximately $1,307,414.25. The trade was a 20.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On PTC

Several large investors have recently modified their holdings of the business. M&G PLC boosted its stake in shares of PTC by 10.1% in the 3rd quarter. M&G PLC now owns 624 shares of the technology company's stock valued at $87,000 after purchasing an additional 57 shares during the last quarter. Parallel Advisors LLC lifted its holdings in PTC by 5.7% in the third quarter. Parallel Advisors LLC now owns 1,180 shares of the technology company's stock valued at $166,000 after buying an additional 64 shares during the period. Kestra Advisory Services LLC boosted its position in shares of PTC by 2.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 3,103 shares of the technology company's stock valued at $435,000 after purchasing an additional 66 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of PTC by 13.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 752 shares of the technology company's stock worth $107,000 after buying an additional 89 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in PTC by 2.7% in the first quarter. D.A. Davidson & CO. now owns 3,783 shares of the technology company's stock worth $539,000 after purchasing an additional 101 shares during the period. Institutional investors own 95.14% of the company's stock.

PTC Company Profile

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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