PTC (NASDAQ:PTC) Given New $230.00 Price Target at Royal Bank of Canada

PTC (NASDAQ:PTC) had its target price raised by Royal Bank of Canada from $202.00 to $230.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

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

PTC Trading Up 1.5 %

Shares of PTC stock traded up $2.78 on Thursday, hitting $192.83. 1,598,899 shares of the company’s stock traded hands, compared to its average volume of 808,537. 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 stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of 61.97, a P/E/G ratio of 2.91 and a beta of 1.17. The company’s fifty day simple moving average is $179.76 and its 200 day simple moving average is $178.21. PTC has a one year low of $148.01 and a one year high of $199.48.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.05 by $0.11. The firm had revenue of $626.55 million for the quarter, compared to the consensus estimate of $620.49 million. PTC had a return on equity of 14.99% and a net margin of 16.37%. Equities analysts forecast that PTC will post 4.47 EPS for the current year.

Insider Buying and Selling at PTC

In other news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.17% of the company’s stock.

Institutional Trading of PTC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after acquiring an additional 122 shares during the last quarter. First Horizon Advisors Inc. increased its stake in PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares in the last quarter. Rothschild Investment LLC purchased a new position in PTC in the second quarter worth about $29,000. International Assets Investment Management LLC bought a new position in shares of PTC in the second quarter worth approximately $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of PTC during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors 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.