PTC (NASDAQ:PTC) Price Target Raised to $230.00 at Stifel Nicolaus

PTC (NASDAQ:PTC) had its target price boosted by Stifel Nicolaus from $200.00 to $230.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

A number of other research analysts have also recently commented on PTC. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Robert W. Baird lifted their price target on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $207.54.

PTC Stock Down 4.1 %

PTC stock opened at $188.83 on Wednesday. The business’s 50-day moving average is $192.02 and its two-hundred day moving average is $181.59. PTC has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 60.72, a P/E/G ratio of 2.70 and a beta of 1.16.

Insider Activity at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now owns 830 shares in the company, valued at approximately $160,356. This represents a 67.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the sale, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. This represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 over the last ninety days. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

Several large investors have recently modified their holdings of PTC. Blue Trust Inc. grew 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 worth $26,000 after purchasing an additional 122 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. Fifth Third Bancorp boosted its stake in PTC by 9.8% during the 2nd quarter. Fifth Third Bancorp now owns 2,377 shares of the technology company’s stock valued at $432,000 after purchasing an additional 212 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. grew its stake in shares of PTC by 13.2% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 768,810 shares of the technology company’s stock worth $139,670,000 after acquiring an additional 89,678 shares during the period. Finally, Addison Capital Co increased its position in PTC by 3.9% during the second quarter. Addison Capital Co now owns 3,127 shares of the technology company’s stock valued at $568,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.