PTC (NASDAQ:PTC) Sets New 52-Week High – Time to Buy?

Shares of PTC Inc. (NASDAQ:PTC) hit a new 52-week high during trading on Monday . The stock traded as high as $199.90 and last traded at $199.90, with a volume of 30316 shares changing hands. The stock had previously closed at $197.64.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Robert W. Baird raised their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, PTC has an average rating of “Moderate Buy” and an average target price of $204.83.

PTC Stock Up 1.2 %

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The firm has a market cap of $24.03 billion, a PE ratio of 63.55, a P/E/G ratio of 2.68 and a beta of 1.17. The stock has a 50-day simple moving average of $184.36 and a two-hundred day simple moving average of $179.29.

Insider Buying and Selling at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at $160,356. This trade represents a 67.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. boosted its holdings in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after buying an additional 62 shares in the last quarter. Blue Trust Inc. boosted its position in shares of PTC by 762.5% in the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of PTC in the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC bought a new position in PTC during the 2nd quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new position in PTC during the second quarter valued at $31,000. 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.