PTC (NASDAQ:PTC) Price Target Increased to $182.00 by Analysts at Piper Sandler

PTC (NASDAQ:PTC) had its target price lifted by Piper Sandler from $177.00 to $182.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

PTC has been the subject of several other research reports. Rosenblatt Securities increased their target price on shares of PTC from $190.00 to $195.00 and gave the company a buy rating in a research note on Thursday. StockNews.com upgraded PTC from a hold rating to a buy rating in a research note on Wednesday, June 26th. Mizuho restated a neutral rating and issued a $190.00 price target (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Barclays raised their target price on PTC from $198.00 to $215.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Finally, Citigroup decreased their price objective on PTC from $195.00 to $187.00 and set a neutral rating on the stock in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $200.18.

PTC Trading Down 2.1 %

Shares of PTC stock traded down $3.69 during trading hours on Thursday, reaching $172.18. 780,042 shares of the stock traded hands, compared to its average volume of 835,083. PTC has a 1-year low of $134.61 and a 1-year high of $194.24. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $20.61 billion, a PE ratio of 71.12, a PEG ratio of 3.34 and a beta of 1.18. The business has a fifty day moving average price of $177.76 and a 200 day moving average price of $180.19.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.23. The firm had revenue of $603.07 million during the quarter, compared to analysts’ expectations of $575.53 million. PTC had a net margin of 13.32% and a return on equity of 13.60%. On average, equities research analysts forecast that PTC will post 3.48 EPS for the current year.

Insider Buying and Selling

In other PTC news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the transaction, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Michael Ditullio sold 6,592 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the sale, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total value of $712,800.00. Following the sale, the director now owns 52,137 shares of the company’s stock, valued at $9,290,813.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,846 shares of company stock valued at $2,854,951. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

A number of hedge funds have recently modified their holdings of PTC. First Horizon Advisors Inc. raised 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 in the last quarter. Blue Trust Inc. lifted its stake in PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after buying an additional 122 shares during the period. Rothschild Investment LLC bought a new position in shares of PTC during the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of PTC during the 2nd quarter worth approximately $30,000. Finally, Lindbrook Capital LLC increased its stake in shares of PTC by 108.3% in the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock valued at $31,000 after acquiring an additional 91 shares in the last quarter. 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.