Royal Bank of Canada Reiterates “Outperform” Rating for PTC (NASDAQ:PTC)

PTC (NASDAQ:PTC)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a research note issued to investors on Thursday, Benzinga reports. They presently have a $202.00 price target on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 14.11% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Rosenblatt Securities upped their target price on PTC from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Barclays upped their target price on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Robert W. Baird upped their target price on PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, Citigroup reduced their target price on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $200.18.

PTC Stock Performance

Shares of NASDAQ:PTC traded down $0.83 on Thursday, hitting $177.02. The company’s stock had a trading volume of 487,595 shares, compared to its average volume of 830,531. PTC has a 12 month low of $134.61 and a 12 month high of $194.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $21.19 billion, a price-to-earnings ratio of 74.07, a price-to-earnings-growth ratio of 3.31 and a beta of 1.18. The stock’s 50-day moving average is $177.89 and its two-hundred day moving average is $180.22.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.23. The company had revenue of $603.07 million for the quarter, compared to analysts’ expectations of $575.53 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. On average, equities research analysts forecast that PTC will post 3.48 EPS for the current year.

Insider Transactions at PTC

In other news, COO Michael Ditullio sold 6,592 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $183.15, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total transaction of $712,800.00. Following the transaction, the director now owns 52,137 shares of the company’s stock, valued at approximately $9,290,813.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Ditullio sold 6,592 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 53,148 shares in the company, valued at approximately $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.

Institutional Trading of PTC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. grew its holdings in PTC by 2.1% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,615 shares of the technology company’s stock valued at $458,000 after buying an additional 55 shares during the last quarter. Diversified Trust Co lifted its position in shares of PTC by 2.9% in the 2nd quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock worth $398,000 after acquiring an additional 62 shares during the period. First Horizon Advisors Inc. lifted its position in shares of PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after acquiring an additional 62 shares during the period. Fifth Third Bancorp lifted its position in shares of PTC by 3.1% in the 1st quarter. Fifth Third Bancorp now owns 2,165 shares of the technology company’s stock worth $409,000 after acquiring an additional 65 shares during the period. Finally, Fidelis Capital Partners LLC lifted its position in shares of PTC by 5.4% in the 1st quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company’s stock worth $275,000 after acquiring an additional 74 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.