Robert W. Baird Boosts PTC (NASDAQ:PTC) Price Target to $226.00

PTC (NASDAQ:PTC) had its target price hoisted by Robert W. Baird from $216.00 to $226.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

PTC has been the topic of a number of other reports. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday, August 1st. Finally, Piper Sandler upped their price objective on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $201.09.

PTC Stock Up 1.8 %

PTC opened at $187.01 on Tuesday. PTC has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The firm has a market capitalization of $22.47 billion, a P/E ratio of 76.33, a PEG ratio of 2.69 and a beta of 1.17. The company’s 50-day moving average is $177.54 and its 200 day moving average is $177.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The firm had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. Research analysts expect that PTC will post 3.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other PTC news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,000 shares of company stock valued at $1,714,010. Corporate insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

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

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.