PTC (NASDAQ:PTC) Price Target Raised to $191.00

PTC (NASDAQ:PTC) had its price target lifted by Robert W. Baird from $185.00 to $191.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of PTC from $183.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Sandler reduced their target price on PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday. Oppenheimer lowered 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $160.00 price objective (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Finally, KeyCorp lowered their target price on PTC from $211.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $187.15.

PTC Stock Up 2.4 %

Shares of PTC stock opened at $160.09 on Thursday. PTC has a 12 month low of $133.38 and a 12 month high of $203.09. The business has a fifty day simple moving average of $153.51 and a 200 day simple moving average of $175.32. 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 stock has a market cap of $19.26 billion, a PE ratio of 49.41, a price-to-earnings-growth ratio of 2.27 and a beta of 1.17.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The company had revenue of $636.37 million during the quarter, compared to analysts’ expectations of $608.64 million. During the same period in the prior year, the business posted $1.46 EPS. PTC’s revenue was up 5.5% on a year-over-year basis. Research analysts predict that PTC will post 4.46 EPS for the current year.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Trading of PTC

A number of large investors have recently added to or reduced their stakes in PTC. Forum Financial Management LP bought a new stake in shares of PTC in the 1st quarter valued at about $353,000. Tributary Capital Management LLC raised its stake in PTC by 16.6% in the first quarter. Tributary Capital Management LLC now owns 8,092 shares of the technology company’s stock valued at $1,254,000 after buying an additional 1,151 shares during the period. Dynasty Wealth Management LLC lifted its position in shares of PTC by 5.8% in the first quarter. Dynasty Wealth Management LLC now owns 1,525 shares of the technology company’s stock valued at $236,000 after buying an additional 83 shares during the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of PTC in the first quarter valued at approximately $387,000. Finally, Kornitzer Capital Management Inc. KS boosted its stake in shares of PTC by 308.0% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 53,450 shares of the technology company’s stock worth $8,282,000 after acquiring an additional 40,350 shares during the period. Institutional investors and hedge funds 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.