Rosenblatt Securities Raises PTC (NASDAQ:PTC) Price Target to $195.00

PTC (NASDAQ:PTC) had its price objective increased by Rosenblatt Securities from $190.00 to $195.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

PTC has been the subject of several other research reports. Mizuho reaffirmed a neutral rating and issued a $190.00 price target (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Barclays increased their target price on shares of PTC from $198.00 to $215.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Robert W. Baird increased their target price on shares of PTC from $210.00 to $216.00 and gave the company an outperform rating in a research report on Thursday, May 2nd. StockNews.com raised shares of PTC from a hold rating to a buy rating in a research report on Wednesday, June 26th. Finally, Citigroup decreased their target price on shares of PTC from $195.00 to $187.00 and set a neutral rating for the company in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $200.18.

PTC Stock Down 2.1 %

Shares of PTC traded down $3.74 during mid-day trading on Thursday, hitting $172.13. The company’s stock had a trading volume of 593,188 shares, compared to its average volume of 833,820. The company’s 50-day moving average is $177.76 and its 200-day moving average is $180.19. PTC has a 52-week low of $134.61 and a 52-week high of $194.24. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 71.12, a PEG ratio of 3.34 and a beta of 1.18. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51.

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

Insider Buying and Selling at PTC

In other news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction 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 sale, the chief operating officer now owns 53,148 shares in the company, valued at $9,734,056.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the sale, the director now owns 48,137 shares in the company, valued at $8,632,408.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the sale, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,846 shares of company stock worth $2,854,951. 1.17% of the stock is owned by corporate insiders.

Institutional Trading of PTC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its holdings in PTC by 180.8% during the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock valued at $5,115,000 after purchasing an additional 17,430 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in PTC by 25.2% during the fourth quarter. Handelsbanken Fonder AB now owns 25,300 shares of the technology company’s stock valued at $4,426,000 after purchasing an additional 5,100 shares in the last quarter. Portfolio Design Labs LLC purchased a new position in PTC during the fourth quarter valued at $4,316,000. Norges Bank purchased a new position in PTC during the fourth quarter valued at $114,043,000. Finally, USA Financial Formulas purchased a new position in shares of PTC in the fourth quarter worth about $1,355,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

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.