PTC (NASDAQ:PTC) Given New $180.00 Price Target at Piper Sandler

PTC (NASDAQ:PTC) had its price objective trimmed by Piper Sandler from $202.00 to $180.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other research firms have also recently issued reports on PTC. Oppenheimer cut their price target on PTC from $210.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Barclays dropped their target price on shares of PTC from $215.00 to $175.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Rosenblatt Securities restated a “buy” rating and issued a $204.00 price objective on shares of PTC in a research report on Thursday. Finally, KeyCorp decreased their price objective on PTC from $211.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.15.

PTC Price Performance

NASDAQ:PTC opened at $156.34 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. The firm has a market cap of $18.81 billion, a PE ratio of 48.25, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17. PTC has a 12 month low of $133.38 and a 12 month high of $203.09. The company’s 50-day moving average price is $153.56 and its two-hundred day moving average price is $175.54.

PTC (NASDAQ:PTC) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The business had revenue of $636.37 million for the quarter, compared to the consensus estimate of $608.64 million. During the same period in the previous year, the business earned $1.46 EPS. PTC’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts anticipate that PTC will post 4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On PTC

Large investors have recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of PTC by 5.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 208,199 shares of the technology company’s stock valued at $39,212,000 after buying an additional 9,893 shares during the period. JPMorgan Chase & Co. lifted its holdings in PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after acquiring an additional 135,677 shares in the last quarter. Oak Thistle LLC acquired a new position in PTC in the fourth quarter valued at about $1,113,000. Proficio Capital Partners LLC bought a new stake in shares of PTC in the fourth quarter worth about $8,858,000. Finally, Avantax Advisory Services Inc. bought a new stake in shares of PTC in the fourth quarter worth about $223,000. 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.