KeyCorp Lowers PTC (NASDAQ:PTC) Price Target to $185.00

PTC (NASDAQ:PTC) had its price target cut by equities researchers at KeyCorp from $211.00 to $185.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective would indicate a potential upside of 25.80% from the company’s previous close.

A number of other analysts have also issued reports on the stock. BMO Capital Markets cut their price target on shares of PTC from $220.00 to $183.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $160.00 price target (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Stifel Nicolaus increased their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.67.

PTC Trading Up 0.4 %

Shares of PTC stock opened at $147.06 on Wednesday. The stock has a 50 day moving average of $158.12 and a 200 day moving average of $178.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of 45.39, a PEG ratio of 2.27 and a beta of 1.17. PTC has a fifty-two week low of $133.38 and a fifty-two week high of $203.09.

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

Insider Activity

In related news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was 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 of the company’s stock, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

A number of hedge funds have recently added to or reduced their stakes in PTC. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of PTC by 5.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company’s stock worth $39,212,000 after purchasing an additional 9,893 shares during the period. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 135,677 shares during the period. Oak Thistle LLC purchased a new stake in shares of PTC in the fourth quarter valued at about $1,113,000. Proficio Capital Partners LLC acquired a new position in shares of PTC during the fourth quarter worth about $8,858,000. Finally, Avantax Advisory Services Inc. purchased a new position in PTC during the fourth quarter worth about $223,000. 95.14% of the stock is owned by institutional investors and hedge funds.

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.