Robert W. Baird Boosts PTC (NASDAQ:PTC) Price Target to $226.00

PTC (NASDAQ:PTC - Get Free Report) had its price objective raised by stock analysts at Robert W. Baird from $216.00 to $226.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the technology company's stock. Robert W. Baird's price target points to a potential upside of 23.54% from the stock's current price.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of PTC from a "buy" rating to a "hold" rating in a research note on Monday, August 5th. Royal Bank of Canada reiterated an "outperform" rating and set a $202.00 target price on shares of PTC in a research note on Thursday, August 1st. Piper Sandler raised their price objective on shares of PTC from $177.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities restated a "buy" rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $201.09.

PTC Trading Down 1.0 %

PTC traded down $1.88 during trading hours on Tuesday, reaching $182.93. The company's stock had a trading volume of 425,874 shares, compared to its average volume of 800,065. PTC has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The stock has a market cap of $21.98 billion, a PE ratio of 74.67, a P/E/G ratio of 2.71 and a beta of 1.17. The business's 50-day moving average is $176.84 and its 200-day moving average is $177.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.02. The company had revenue of $518.64 million for the quarter, compared to analyst estimates of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. As a group, equities research analysts predict that PTC will post 3.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Janice Chaffin sold 4,000 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the sale, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Janice Chaffin sold 4,000 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total transaction of $685,360.00. Following the sale, the director now owns 44,137 shares in the company, valued at $7,562,433.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,000 shares of company stock worth $1,714,010 in the last ninety days. 1.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PTC. Vanguard Group Inc. grew its position in PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company's stock worth $2,596,209,000 after purchasing an additional 205,673 shares during the last quarter. Impax Asset Management Group plc grew its position in PTC by 4.4% in the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company's stock worth $206,091,000 after purchasing an additional 48,553 shares during the last quarter. Liontrust Investment Partners LLP grew its position in PTC by 1.0% in the 2nd quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company's stock worth $182,383,000 after purchasing an additional 10,338 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in PTC by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company's stock worth $165,377,000 after purchasing an additional 40,462 shares during the last quarter. Finally, Fernbridge Capital Management LP grew its position in PTC by 6.3% in the 2nd quarter. Fernbridge Capital Management LP now owns 778,015 shares of the technology company's stock worth $141,342,000 after purchasing an additional 46,286 shares during the last quarter. 95.14% of the stock is currently 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.