PTC (NASDAQ:PTC) Reaches New 12-Month Low – Here’s What Happened

PTC Inc. (NASDAQ:PTC)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $146.92 and last traded at $147.90, with a volume of 116930 shares changing hands. The stock had previously closed at $157.16.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. KeyCorp lifted their target price on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Stifel Nicolaus boosted their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Citigroup reduced their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $204.00 target price on shares of PTC in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, PTC currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Stock Down 6.5 %

The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $166.16 and a 200-day simple moving average of $180.21. The company has a market cap of $16.82 billion, a PE ratio of 43.14, a P/E/G ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) 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%. Equities research analysts anticipate that PTC Inc. will post 4.46 EPS for the current year.

Insider Buying and Selling

In other news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were 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 of the company’s stock, valued at approximately $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 at this link. Insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

A number of hedge funds have recently bought and sold shares of PTC. Aster Capital Management DIFC Ltd purchased a new position in PTC during the fourth quarter worth about $30,000. Allworth Financial LP raised its holdings in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares in the last quarter. Pinney & Scofield Inc. acquired a new position in shares of PTC during the fourth quarter worth $47,000. Kapitalo Investimentos Ltda acquired a new position in shares of PTC during the 4th quarter worth about $51,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in PTC by 42.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the technology company’s stock worth $60,000 after purchasing an additional 114 shares in the last quarter. 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.