Robert W. Baird Increases PTC (NASDAQ:PTC) Price Target to $216.00

PTC (NASDAQ:PTC) had its price objective lifted by Robert W. Baird from $210.00 to $216.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 22.89% from the company’s previous close.

A number of other research analysts have also weighed in on the company. JPMorgan Chase & Co. raised PTC from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $130.00 to $200.00 in a report on Thursday, January 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 price target on shares of PTC in a research note on Thursday, February 1st. Barclays raised their price objective on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. BMO Capital Markets increased their target price on shares of PTC from $195.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Mizuho decreased their price target on PTC from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, PTC presently has an average rating of “Moderate Buy” and an average price target of $200.64.

PTC Stock Performance

Shares of NASDAQ:PTC traded up $5.17 during midday trading on Thursday, hitting $175.77. The stock had a trading volume of 1,491,232 shares, compared to its average volume of 866,022. The company has a market capitalization of $21.01 billion, a PE ratio of 73.54, a P/E/G ratio of 3.05 and a beta of 1.19. PTC has a 1 year low of $124.42 and a 1 year high of $194.24. The stock has a 50 day moving average price of $183.30 and a two-hundred day moving average price of $171.18. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $550.21 million for the quarter, compared to analyst estimates of $538.59 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. As a group, equities analysts predict that PTC will post 3.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now directly owns 13,864 shares in the company, valued at approximately $2,489,835.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares in the company, valued at $171,631,594.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the sale, the insider now directly owns 13,864 shares in the company, valued at $2,489,835.76. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Legacy Financial Group LLC acquired a new stake in shares of PTC during the 3rd quarter worth $28,000. Lindbrook Capital LLC grew its position in PTC by 108.3% during the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock valued at $31,000 after acquiring an additional 91 shares during the period. Riverview Trust Co acquired a new stake in PTC during the first quarter worth about $34,000. Resources Management Corp CT ADV raised its holdings in shares of PTC by 4,285.7% in the 3rd quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock worth $43,000 after purchasing an additional 300 shares during the period. Finally, Principal Securities Inc. acquired a new position in shares of PTC in the 4th quarter valued at about $46,000. 95.14% of the stock is currently owned by hedge funds and other 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.