Analysts Set PTC Inc. (NASDAQ:PTC) Price Target at $200.18

PTC Inc. (NASDAQ:PTC) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $200.18.

A number of research analysts have commented on the stock. Piper Sandler increased their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Mizuho reiterated a “neutral” rating and issued a $190.00 price target (down from $200.00) on shares of PTC in a research note on Tuesday, June 4th. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Rosenblatt Securities increased their target price on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 target price on shares of PTC in a research report on Thursday, August 1st.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the transaction, the director now directly owns 44,137 shares of the company’s stock, valued at $7,562,433.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock worth $2,431,330 in the last 90 days. 1.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PTC

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after buying an additional 122 shares during the period. First Horizon Advisors Inc. raised its position in PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Rothschild Investment LLC acquired a new stake in PTC in the 2nd quarter valued at about $29,000. International Assets Investment Management LLC bought a new position in shares of PTC during the 2nd quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of PTC in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Trading Up 0.8 %

NASDAQ:PTC opened at $172.23 on Wednesday. The stock has a market cap of $20.69 billion, a price-to-earnings ratio of 72.06, a price-to-earnings-growth ratio of 3.14 and a beta of 1.18. PTC has a one year low of $134.61 and a one year high of $194.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The business’s 50-day simple moving average is $174.74 and its 200 day simple moving average is $178.83.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $518.64 million for the quarter, compared to analyst estimates of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. As a group, sell-side analysts predict that PTC will post 3.52 earnings per share for the current fiscal year.

PTC Company Profile

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.