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

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

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

PTC Stock Down 3.4 %

Shares of NASDAQ:PTC traded down $6.78 during trading on Thursday, hitting $191.26. The company’s stock had a trading volume of 723,350 shares, compared to its average volume of 800,463. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. PTC has a fifty-two week low of $148.01 and a fifty-two week high of $199.48. The stock’s 50-day moving average price is $179.50 and its two-hundred day moving average price is $178.13. The company has a market capitalization of $22.98 billion, a PE ratio of 78.40, a PEG ratio of 2.74 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.05 by $0.11. PTC had a return on equity of 13.36% and a net margin of 13.32%. The business had revenue of $626.55 million for the quarter, compared to analysts’ expectations of $620.49 million. As a group, sell-side analysts expect that PTC will post 3.51 EPS for the current year.

Insider Buying and Selling

In related news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in PTC by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after purchasing an additional 205,673 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of PTC by 4.4% during the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after acquiring an additional 48,553 shares during the last quarter. Liontrust Investment Partners LLP lifted its position in shares of PTC by 1.0% during the 2nd quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock valued at $182,383,000 after acquiring an additional 10,338 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of PTC by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company’s stock valued at $165,377,000 after acquiring an additional 40,462 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of PTC by 4.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock valued at $141,471,000 after acquiring an additional 32,343 shares during the last quarter. 95.14% of the stock is 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.