PTC (NASDAQ:PTC) PT Raised to $216.00 at Robert W. Baird

PTC (NASDAQ:PTC) had its price target raised by Robert W. Baird from $210.00 to $216.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

PTC has been the topic of several other reports. Piper Sandler upped their price objective on shares of PTC from $155.00 to $177.00 and gave the company a neutral rating in a report on Tuesday, January 9th. KeyCorp upped their price target on shares of PTC from $190.00 to $205.00 and gave the company an overweight rating in a research note on Thursday, February 1st. BMO Capital Markets raised their price objective on shares of PTC from $195.00 to $200.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. StockNews.com downgraded PTC from a buy rating to a hold rating in a research report on Saturday, April 27th. Finally, Mizuho lowered their price target on shares of PTC from $210.00 to $200.00 and set a buy rating on the stock in a research report on Thursday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $200.64.

PTC Stock Performance

NASDAQ PTC traded up $5.17 during trading on Thursday, reaching $175.77. 1,491,232 shares of the company’s stock were exchanged, compared to its average volume of 866,022. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.32 and a quick ratio of 1.19. The business has a 50 day moving average price of $183.30 and a 200-day moving average price of $171.18. The stock has a market capitalization of $21.01 billion, a P/E ratio of 73.54, a PEG ratio of 3.05 and a beta of 1.19. PTC has a fifty-two week low of $124.42 and a fifty-two week high of $194.24.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. PTC had a return on equity of 13.76% and a net margin of 12.84%. The business had revenue of $550.21 million for the quarter, compared to analyst estimates of $538.59 million. Sell-side analysts forecast that PTC will post 3.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the transaction, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the sale, the insider now directly owns 13,864 shares in the company, valued at $2,489,835.76. The disclosure for this sale can be found here. 1.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PTC

A number of hedge funds have recently bought and sold shares of the company. Legacy Financial Group LLC bought a new stake in PTC in the third quarter worth approximately $28,000. Lindbrook Capital LLC boosted its holdings in shares of PTC by 108.3% during the 4th 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. Riverview Trust Co acquired a new stake in shares of PTC during the 1st quarter worth approximately $34,000. Resources Management Corp CT ADV increased its stake in shares of PTC by 4,285.7% in the 3rd quarter. Resources Management Corp CT ADV now owns 307 shares of the technology company’s stock valued at $43,000 after acquiring an additional 300 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of PTC during the 4th quarter valued at $46,000. Institutional investors own 95.14% of the company’s stock.

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.