PTC (NASDAQ:PTC) had its price target cut by Wedbush from $100.00 to $90.00 in a research report released on Thursday, The Fly reports. They currently have a neutral rating on the technology company’s stock.

Several other research firms also recently weighed in on PTC. Mizuho upped their price target on Facebook from $230.00 to $247.00 and gave the stock a buy rating in a research note on Thursday. ValuEngine downgraded China Southern Airlines from a hold rating to a sell rating in a research note on Monday, April 29th. Stifel Nicolaus dropped their price target on Align Technology from $360.00 to $290.00 and set a buy rating for the company in a research note on Thursday. Royal Bank of Canada restated a hold rating and issued a $21.00 price target on shares of ABB in a research note on Thursday. Finally, Evercore ISI restated a hold rating and issued a $70.00 price target on shares of Akamai Technologies in a research note on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $95.13.

Shares of NASDAQ:PTC traded up $0.46 during mid-day trading on Thursday, reaching $73.36. 2,001,802 shares of the company traded hands, compared to its average volume of 1,357,437. The stock’s 50 day simple moving average is $88.56. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 81.51, a PEG ratio of 2.16 and a beta of 1.19. The company has a current ratio of 0.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.77. PTC has a 52 week low of $72.56 and a 52 week high of $107.44.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.18. PTC had a return on equity of 9.80% and a net margin of 2.63%. The business had revenue of $322.40 million during the quarter, compared to the consensus estimate of $322.42 million. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts forecast that PTC will post 1.07 EPS for the current year.

In other news, insider James E. Heppelmann sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $89.02, for a total transaction of $1,335,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Matthew Lessner Cohen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the executive vice president now directly owns 25,672 shares in the company, valued at $2,310,480. The disclosure for this sale can be found here. Insiders have sold a total of 25,700 shares of company stock worth $2,295,738 over the last ninety days. Insiders own 9.91% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Arlington Partners LLC purchased a new stake in PTC during the 2nd quarter valued at $64,000. Machina Capital S.A.S. raised its holdings in PTC by 17,775.0% during the 2nd quarter. Machina Capital S.A.S. now owns 715 shares of the technology company’s stock valued at $64,000 after buying an additional 711 shares during the period. First Manhattan Co. purchased a new stake in PTC during the 1st quarter valued at $92,000. Manchester Capital Management LLC purchased a new stake in PTC during the 1st quarter valued at $115,000. Finally, Pearl River Capital LLC raised its holdings in PTC by 201.7% during the 1st quarter. Pearl River Capital LLC now owns 2,112 shares of the technology company’s stock valued at $194,000 after buying an additional 1,412 shares during the period. Institutional investors own 92.46% of the company’s stock.

About PTC

PTC Inc operates as software and services company in Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx, an industrial innovation platform to develop and deploy industrial Internet of Things applications; and KEPServerEX solution to provide communications connectivity for industrial automation environments to connect, manage, monitor, and control disparate devices and software applications.

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Analyst Recommendations for PTC (NASDAQ:PTC)

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