PTC (NASDAQ:PTC) Price Target Raised to $202.00 at Piper Sandler

PTC (NASDAQ:PTC) had its price objective raised by investment analysts at Piper Sandler from $182.00 to $202.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s target price points to a potential upside of 5.43% from the company’s previous close.

PTC has been the subject of a number of other reports. Rosenblatt Securities restated a “buy” rating and set a $195.00 price target on shares of PTC in a research report on Thursday, October 10th. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and reduced their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $202.00 price target on shares of PTC in a research report on Thursday, August 1st. Robert W. Baird boosted their price target on shares of PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.33.

PTC Stock Performance

Shares of NASDAQ:PTC traded down $6.44 during mid-day trading on Thursday, reaching $191.60. The company had a trading volume of 603,701 shares, compared to its average volume of 799,543. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a market cap of $23.02 billion, a price-to-earnings ratio of 78.20, a PEG ratio of 2.74 and a beta of 1.17. The company’s 50-day moving average price is $179.50 and its 200-day moving average price is $178.13. PTC has a one year low of $148.01 and a one year high of $199.48.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.11. The company had revenue of $626.55 million for the quarter, compared to analysts’ expectations of $620.49 million. PTC had a net margin of 13.32% and a return on equity of 13.36%. As a group, equities research analysts anticipate that PTC will post 3.51 EPS for the current fiscal year.

Insider Buying and Selling at PTC

In other PTC 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 transaction of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

Hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. raised 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 worth $26,000 after buying an additional 62 shares in the last quarter. Blue Trust Inc. raised its stake in 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 buying an additional 122 shares in the last quarter. Rothschild Investment LLC bought a new position in PTC in the second quarter worth about $29,000. International Assets Investment Management LLC bought a new position in PTC in the second quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new position in PTC in the second quarter worth about $31,000. 95.14% of the stock is owned by institutional investors.

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.