PTC (NASDAQ:PTC) Price Target Raised to $230.00

PTC (NASDAQ:PTC) had its price target increased by analysts at Royal Bank of Canada from $202.00 to $230.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 20.26% from the stock’s current price.

A number of other analysts have also issued reports on the company. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and dropped their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler upped their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird upped their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.83.

PTC Stock Down 3.4 %

Shares of PTC traded down $6.78 during mid-day trading on Thursday, reaching $191.26. The company’s stock had a trading volume of 723,350 shares, compared to its average volume of 800,463. The business has a fifty day moving average of $179.50 and a 200 day moving average of $178.13. The company has a market cap of $22.98 billion, a price-to-earnings ratio of 78.40, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17. PTC has a 1 year low of $148.01 and a 1 year high of $199.48. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, November 6th. The technology company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.11. The company had revenue of $626.55 million during the quarter, compared to analyst estimates of $620.49 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. As a group, analysts forecast that PTC will post 3.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction on Monday, August 12th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

Several hedge funds and other institutional investors have recently made changes to their positions in PTC. Commonwealth Equity Services LLC lifted its stake in shares of PTC by 2.6% in the first quarter. Commonwealth Equity Services LLC now owns 3,609 shares of the technology company’s stock valued at $682,000 after buying an additional 93 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of PTC in the first quarter valued at about $212,000. Janney Montgomery Scott LLC bought a new stake in shares of PTC in the first quarter valued at about $215,000. Nordea Investment Management AB lifted its stake in shares of PTC by 3.6% in the first quarter. Nordea Investment Management AB now owns 9,240 shares of the technology company’s stock valued at $1,748,000 after buying an additional 322 shares during the period. Finally, Texas Permanent School Fund Corp lifted its stake in shares of PTC by 0.7% in the first quarter. Texas Permanent School Fund Corp now owns 24,720 shares of the technology company’s stock valued at $4,671,000 after buying an additional 177 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

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.