PTC (NASDAQ:PTC) Price Target Cut to $160.00 by Analysts at Mizuho

PTC (NASDAQ:PTC) had its price objective dropped by investment analysts at Mizuho from $190.00 to $160.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Mizuho’s price objective would indicate a potential upside of 9.19% from the stock’s previous close.

Several other analysts have also issued reports on PTC. KeyCorp increased their price objective on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Rosenblatt Securities reissued a “buy” rating and set a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. Citigroup decreased their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Stifel Nicolaus raised their target price on PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.18.

PTC Stock Performance

PTC stock opened at $146.54 on Tuesday. 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 has a 52 week low of $133.38 and a 52 week high of $203.09. The stock has a 50 day moving average of $158.61 and a 200-day moving average of $178.30. The stock has a market cap of $17.63 billion, a P/E ratio of 45.23, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its 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 net margin of 16.95% and a return on equity of 14.49%. On average, analysts expect that PTC will post 4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the transaction, the director now owns 7,604 shares in the company, valued at $1,182,650.12. The trade was a 7.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. raised its holdings in shares of PTC by 11.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock worth $3,174,432,000 after purchasing an additional 1,773,653 shares during the period. Raymond James Financial Inc. bought a new position in shares of PTC in the fourth quarter worth approximately $146,712,000. Norges Bank purchased a new position in PTC in the fourth quarter worth $128,852,000. GAMMA Investing LLC lifted its position in PTC by 13,184.0% in the 1st quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company’s stock worth $53,517,000 after buying an additional 342,784 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of PTC during the 4th quarter valued at $59,506,000. Hedge funds and other institutional investors 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.