PTC (NASDAQ:PTC) Hits New 1-Year High - What's Next?

PTC Inc. (NASDAQ:PTC - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $213.14 and last traded at $210.47, with a volume of 4171618 shares traded. The stock had previously closed at $178.90.

Wall Street Analyst Weigh In

Several research analysts recently commented on PTC shares. KeyCorp restated an "overweight" rating and set a $192.00 target price (up previously from $185.00) on shares of PTC in a report on Monday. Barclays reduced their target price on shares of PTC from $215.00 to $175.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Piper Sandler reduced their target price on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $204.00 target price on shares of PTC in a report on Thursday, May 1st. Finally, Mizuho dropped their price target on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $189.23.

PTC Price Performance

The company has a market capitalization of $23.34 billion, a P/E ratio of 53.46, a price-to-earnings-growth ratio of 2.46 and a beta of 1.17. The company's 50-day moving average price is $169.82 and its two-hundred day moving average price is $168.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.42. The company had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 18.77% and a return on equity of 15.35%. The company's revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. As a group, sell-side analysts expect that PTC Inc. will post 4.46 EPS for the current year.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the transaction, the executive vice president directly owned 17,731 shares of the company's stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On PTC

Hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group grew its holdings in shares of PTC by 15.5% during the 1st quarter. Brooklyn Investment Group now owns 439 shares of the technology company's stock valued at $68,000 after purchasing an additional 59 shares during the last quarter. Wahed Invest LLC grew its holdings in shares of PTC by 2.1% during the 4th quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock valued at $539,000 after purchasing an additional 61 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of PTC by 1.9% during the 1st quarter. D.A. Davidson & CO. now owns 3,755 shares of the technology company's stock valued at $582,000 after purchasing an additional 70 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of PTC by 3.3% during the 1st quarter. American Century Companies Inc. now owns 2,271 shares of the technology company's stock valued at $352,000 after purchasing an additional 73 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of PTC by 3.1% during the 1st quarter. Empowered Funds LLC now owns 2,498 shares of the technology company's stock valued at $387,000 after purchasing an additional 75 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

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.