Oppenheimer Has Lowered Expectations for PTC (NASDAQ:PTC) Stock Price

by · The Markets Daily

PTC (NASDAQ:PTC – Get Free Report) had its target price decreased by investment analysts at Oppenheimer from $210.00 to $170.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target would indicate a potential upside of 10.37% from the stock’s current price.

A number of other research analysts have also recently issued reports on PTC. Robert W. Baird raised their price objective on PTC from $181.00 to $185.00 and gave the company an “outperform” rating in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. restated a “neutral” rating and set a $160.00 price target (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Citigroup lowered their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Mizuho cut their target price on shares of PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Finally, StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.38.

View Our Latest Report on PTC

PTC Stock Performance

Shares of NASDAQ PTC opened at $154.03 on Friday. The stock’s 50-day moving average is $154.42 and its 200 day moving average is $176.28. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of 47.54, a P/E/G ratio of 2.27 and a beta of 1.17. PTC has a 1-year low of $133.38 and a 1-year high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC – Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS 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%. On average, sell-side analysts anticipate that PTC will post 4.46 EPS for the current fiscal year.

Insider Activity

In related news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after acquiring an additional 30,525 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of PTC during the third quarter valued at approximately $3,113,000. Principal Financial Group Inc. lifted its holdings in shares of PTC by 3.8% during the third quarter. Principal Financial Group Inc. now owns 149,071 shares of the technology company’s stock valued at $26,931,000 after purchasing an additional 5,403 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of PTC by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after purchasing an additional 135,677 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of PTC by 86.8% in the 4th quarter. GAMMA Investing LLC now owns 2,600 shares of the technology company’s stock worth $478,000 after buying an additional 1,208 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

About PTC

(Get Free Report)

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.

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