PTC (NASDAQ:PTC) Price Target Raised to $211.00 at KeyCorp

PTC (NASDAQ:PTC) had its price target upped by KeyCorp from $205.00 to $211.00 in a report issued on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada boosted their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Stifel Nicolaus upped their target price on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.09.

PTC Trading Down 9.6 %

NASDAQ:PTC opened at $171.61 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC has a 1 year low of $163.30 and a 1 year high of $203.09. The stock has a market cap of $20.65 billion, a P/E ratio of 55.18, a P/E/G ratio of 2.62 and a beta of 1.19. The stock has a 50-day simple moving average of $190.48 and a 200-day simple moving average of $183.73.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.37% and a return on equity of 14.63%. As a group, analysts anticipate that PTC will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 860 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,242 shares of company stock valued at $3,630,716 over the last three months. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of PTC

Hedge funds have recently modified their holdings of the business. Covestor Ltd boosted its holdings in PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 80 shares in the last quarter. Allworth Financial LP lifted its position in shares of PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after acquiring an additional 69 shares during the period. Assetmark Inc. boosted its stake in shares of PTC by 825.0% during the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after acquiring an additional 297 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of PTC during the 3rd quarter worth approximately $66,000. Finally, Park Place Capital Corp acquired a new stake in shares of PTC in the 3rd quarter worth approximately $67,000. 95.14% of the stock is owned by institutional investors and hedge funds.

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.