PTC (NASDAQ:PTC) Price Target Raised to $182.00

PTC (NASDAQ:PTC) had its price objective upped by Piper Sandler from $177.00 to $182.00 in a research report released on Thursday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

PTC has been the topic of several other reports. StockNews.com raised shares of PTC from a hold rating to a buy rating in a report on Wednesday, June 26th. Rosenblatt Securities lifted their price objective on PTC from $190.00 to $195.00 and gave the company a buy rating in a research report on Thursday. Citigroup lowered their target price on PTC from $195.00 to $187.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. Robert W. Baird lifted their price target on PTC from $210.00 to $216.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Finally, Mizuho reissued a neutral rating and set a $190.00 price objective (down previously from $200.00) on shares of PTC in a report on Tuesday, June 4th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC has a consensus rating of Moderate Buy and a consensus target price of $200.18.

PTC Stock Performance

Shares of NASDAQ PTC traded down $3.69 during mid-day trading on Thursday, hitting $172.18. The company had a trading volume of 780,042 shares, compared to its average volume of 835,083. The business’s 50-day simple moving average is $177.76 and its 200-day simple moving average is $180.19. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $20.61 billion, a P/E ratio of 71.12, a PEG ratio of 3.34 and a beta of 1.18. PTC has a 12 month low of $134.61 and a 12 month high of $194.24.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. PTC had a return on equity of 13.60% and a net margin of 13.32%. The business had revenue of $603.07 million during the quarter, compared to analysts’ expectations of $575.53 million. As a group, analysts predict that PTC will post 3.48 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC

In other PTC news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the sale, the chief operating officer now directly owns 53,148 shares in the company, valued at $9,734,056.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the completion of the transaction, the insider now directly owns 13,598 shares in the company, valued at approximately $2,358,573.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the transaction, the chief operating officer now owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,846 shares of company stock valued at $2,854,951. Corporate insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its stake in PTC by 180.8% during the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after buying an additional 17,430 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of PTC by 25.2% in the fourth quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock valued at $4,426,000 after buying an additional 5,100 shares in the last quarter. Portfolio Design Labs LLC acquired a new position in shares of PTC during the fourth quarter valued at about $4,316,000. Norges Bank acquired a new stake in shares of PTC in the 4th quarter worth about $114,043,000. Finally, USA Financial Formulas bought a new position in PTC in the 4th quarter valued at about $1,355,000. 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.