PTC (NASDAQ:PTC) Price Target Increased to $226.00 by Analysts at Robert W. Baird

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

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $202.00 price target on shares of PTC in a report on Thursday, August 1st. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Piper Sandler increased their price objective on shares of PTC from $177.00 to $182.00 and gave the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.09.

PTC Price Performance

NASDAQ PTC opened at $183.63 on Tuesday. PTC has a one year low of $134.61 and a one year high of $194.24. The stock has a 50-day moving average of $177.27 and a 200 day moving average of $177.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $22.06 billion, a price-to-earnings ratio of 74.95, a PEG ratio of 2.69 and a beta of 1.17.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. PTC had a net margin of 13.32% and a return on equity of 13.36%. The firm had revenue of $518.64 million during the quarter, compared to analyst estimates of $533.04 million. On average, sell-side analysts forecast that PTC will post 3.51 EPS for the current year.

Insiders Place Their Bets

In other news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total transaction of $685,360.00. Following the sale, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 completion of the transaction, the director now owns 44,137 shares of the company’s stock, valued at $7,562,433.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Schechter sold 5,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the sale, the director now owns 59,616 shares of the company’s stock, valued at $10,237,855.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock worth $1,714,010 over the last three months. 1.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PTC

Several hedge funds have recently modified their holdings of PTC. Intech Investment Management LLC lifted its stake in PTC by 180.8% in the 1st quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after purchasing an additional 17,430 shares in the last quarter. Swedbank AB purchased a new stake in shares of PTC in the first quarter worth about $9,849,000. BNP Paribas Financial Markets boosted its stake in PTC by 133.1% during the first quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock valued at $23,205,000 after buying an additional 70,131 shares during the last quarter. Norden Group LLC grew its holdings in PTC by 1,600.7% during the 1st quarter. Norden Group LLC now owns 55,308 shares of the technology company’s stock valued at $10,450,000 after buying an additional 52,056 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in PTC by 5.9% in the 1st quarter. TD Asset Management Inc now owns 437,643 shares of the technology company’s stock worth $82,688,000 after acquiring an additional 24,372 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Company Profile

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.