PTC (NASDAQ:PTC) Given New $228.00 Price Target at Robert W. Baird

PTC (NASDAQ:PTC) had its price objective upped by research analysts at Robert W. Baird from $226.00 to $228.00 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 target price suggests a potential upside of 18.24% from the company’s current price.

Other equities research analysts have also issued reports about the company. Piper Sandler upped their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price target on shares of PTC in a research report on Thursday, August 1st. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and cut their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Price Performance

Shares of PTC stock opened at $192.83 on Thursday. The business’s 50 day moving average price is $180.03 and its 200-day moving average price is $178.31. The firm has a market cap of $23.17 billion, a P/E ratio of 62.00, a P/E/G ratio of 2.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. PTC has a fifty-two week low of $148.01 and a fifty-two week high of $199.48.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.11. The company had revenue of $626.55 million during the quarter, compared to analyst estimates of $620.49 million. PTC had a return on equity of 14.99% and a net margin of 16.37%. On average, equities research analysts anticipate that PTC will post 4.47 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares in the company, valued at approximately $7,562,433.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of institutional investors and hedge funds have recently bought and sold shares of PTC. First Horizon Advisors Inc. boosted its holdings in PTC by 77.5% in 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 during the last quarter. Blue Trust Inc. raised its position in PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. Rothschild Investment LLC purchased a new position in shares of PTC during the 2nd quarter worth $29,000. International Assets Investment Management LLC acquired a new stake in shares of PTC during the 2nd quarter worth about $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of PTC during the 2nd quarter worth about $31,000. 95.14% of the stock is currently owned by institutional investors and hedge funds.

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.