Analysts Set PTC Inc. (NASDAQ:PTC) Target Price at $199.73

PTC Inc. (NASDAQ:PTC) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $199.73.

A number of research firms have commented on PTC. Citigroup lowered their price objective on PTC from $195.00 to $187.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Barclays boosted their price objective on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of PTC in a report on Friday, April 12th. Finally, Robert W. Baird lifted their target price on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd.

Insider Activity at PTC

In related news, COO Michael Ditullio sold 6,592 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the sale, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at approximately $9,734,056.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $179.33, for a total value of $717,320.00. Following the completion of the transaction, the director now directly owns 48,137 shares of the company’s stock, valued at $8,632,408.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Ditullio sold 6,592 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the completion of the transaction, the chief operating officer now directly owns 53,148 shares of the company’s stock, valued at $9,734,056.20. The disclosure for this sale can be found here. Insiders sold 15,846 shares of company stock valued at $2,854,951 in the last three months. Corporate insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

Several institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. lifted its stake in PTC by 77.5% in the second 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. lifted its position in shares of PTC by 762.5% during 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 in the last quarter. Lindbrook Capital LLC raised its position in shares of PTC by 108.3% in the fourth quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock worth $31,000 after buying an additional 91 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of PTC in the second quarter worth $31,000. Finally, Riverview Trust Co purchased a new stake in shares of PTC in the first quarter worth $34,000. 95.14% of the stock is owned by institutional investors.

PTC Stock Performance

NASDAQ:PTC opened at $173.80 on Tuesday. The stock has a market cap of $20.80 billion, a P/E ratio of 72.72, a PEG ratio of 3.27 and a beta of 1.18. The stock has a 50 day simple moving average of $178.27 and a 200 day simple moving average of $180.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51. PTC has a 1-year low of $134.61 and a 1-year high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. PTC had a return on equity of 13.76% and a net margin of 12.84%. The firm had revenue of $603.07 million for the quarter, compared to analyst estimates of $575.53 million. Research analysts anticipate that PTC will post 3.48 earnings per share for the current year.

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.