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

PTC (NASDAQ:PTC) had its price target cut by KeyCorp from $211.00 to $185.00 in a research report released on Wednesday morning, Marketbeat.com reports. They currently have an overweight rating on the technology company’s stock.

Several other research analysts have also recently commented on PTC. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. JPMorgan Chase & Co. restated a “neutral” rating and set a $160.00 price objective (down previously from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Citigroup cut their target price on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. BMO Capital Markets dropped their price target on PTC from $220.00 to $183.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $195.67.

PTC Stock Performance

NASDAQ:PTC opened at $143.56 on Wednesday. The stock has a 50 day simple moving average of $156.63 and a 200 day simple moving average of $177.37. The stock has a market cap of $17.27 billion, a P/E ratio of 44.31, a PEG 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) last posted its 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 return on equity of 14.49% and a net margin of 16.95%. Research analysts anticipate that PTC will post 4.46 earnings per share for the current year.

Insider Activity

In other PTC news, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 7,604 shares of the company’s stock, 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 SEC, which can be accessed through this link. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PTC

Hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new position in PTC during the 4th quarter worth $30,000. Allworth Financial LP increased its stake in shares of 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 buying an additional 69 shares during the period. UMB Bank n.a. boosted its holdings in PTC by 153.4% in the first quarter. UMB Bank n.a. now owns 294 shares of the technology company’s stock valued at $46,000 after acquiring an additional 178 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in PTC during the 4th quarter valued at approximately $47,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of PTC in the 4th quarter worth approximately $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.