PTC (NASDAQ:PTC) Shares Gap Down - Here's What Happened

PTC Inc. (NASDAQ:PTC - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $210.47, but opened at $198.35. PTC shares last traded at $193.90, with a volume of 2,493,835 shares.

Analyst Ratings Changes

Several research analysts have commented on the company. Oppenheimer restated a "cautious" rating on shares of PTC in a report on Thursday, June 12th. Rosenblatt Securities restated a "buy" rating and set a $204.00 price objective on shares of PTC in a report on Thursday, May 1st. KeyCorp restated an "overweight" rating and set a $192.00 price objective (up from $185.00) on shares of PTC in a report on Monday. Mizuho reduced their price objective on PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Robert W. Baird increased their target price on PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $189.23.

PTC Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40. The stock has a market cap of $23.21 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 2.90 and a beta of 1.17. The stock has a 50-day moving average price of $170.59 and a two-hundred day moving average price of $168.06.

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

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president owned 17,731 shares of the company's stock, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company's stock.

Institutional Trading of PTC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTC. T. Rowe Price Investment Management Inc. raised its stake in shares of PTC by 17.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock valued at $3,147,478,000 after buying an additional 3,048,311 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PTC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company's stock valued at $2,220,771,000 after buying an additional 39,688 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock valued at $555,626,000 after buying an additional 67,504 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of PTC by 41.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock valued at $445,687,000 after buying an additional 844,418 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of PTC by 1.9% during the 1st quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company's stock valued at $367,382,000 after buying an additional 44,961 shares during the last quarter. 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.