PTC (NASDAQ:PTC) Given New $175.00 Price Target at Barclays

PTC (NASDAQ:PTC) had its target price cut by research analysts at Barclays from $215.00 to $175.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target indicates a potential upside of 19.00% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Citigroup reduced their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Stifel Nicolaus boosted their price target on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. KeyCorp lifted their price objective on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $160.00 price target (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Finally, StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.18.

PTC Price Performance

PTC stock opened at $147.06 on Monday. The stock’s 50 day moving average is $158.12 and its two-hundred day moving average is $178.08. PTC has a 52-week low of $133.38 and a 52-week high of $203.09. The company has a market capitalization of $17.69 billion, a PE ratio of 45.39, a P/E/G ratio of 2.27 and a beta of 1.17. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Analysts predict that PTC will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. The trade was a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On PTC

A number of hedge funds and other institutional investors have recently modified their holdings of PTC. Aster Capital Management DIFC Ltd acquired a new position in shares of PTC in the fourth quarter worth about $30,000. Allworth Financial LP boosted its stake in PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the period. UMB Bank n.a. grew its position in PTC by 153.4% during the 1st quarter. UMB Bank n.a. now owns 294 shares of the technology company’s stock worth $46,000 after purchasing an additional 178 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in PTC during the 4th quarter valued at $47,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of PTC in the fourth quarter worth $51,000. 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.