PTC Inc. (NASDAQ:PTC) Receives $207.54 Average Target Price from Brokerages

Shares of PTC Inc. (NASDAQ:PTC - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the thirteen brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $207.54.

A number of research firms have recently issued reports on PTC. StockNews.com raised PTC from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Stifel Nicolaus upped their target price on PTC from $200.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Piper Sandler boosted their target price on shares of PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Finally, Berenberg Bank cut PTC from a "buy" rating to a "hold" rating and decreased their price target for the company from $210.00 to $196.00 in a research note on Friday, November 1st.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the business's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares of the company's stock, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the transaction, the chief financial officer now directly owns 57,134 shares of the company's stock, valued at approximately $11,389,091.56. This represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 in the last quarter. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fernbridge Capital Management LP lifted its holdings in PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company's stock worth $258,164,000 after buying an additional 650,990 shares in the last quarter. Congress Asset Management Co. lifted its stake in shares of PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company's stock worth $119,746,000 after acquiring an additional 586,443 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in PTC in the third quarter valued at about $84,549,000. Massachusetts Financial Services Co. MA grew its stake in PTC by 66.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company's stock valued at $140,577,000 after purchasing an additional 310,092 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of PTC by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company's stock valued at $97,193,000 after buying an additional 135,677 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company's stock.

PTC Stock Performance

PTC traded up $2.75 during mid-day trading on Tuesday, reaching $185.17. 363,502 shares of the company traded hands, compared to its average volume of 733,386. PTC has a 52-week low of $163.30 and a 52-week high of $203.09. The company's fifty day moving average price is $192.02 and its 200-day moving average price is $182.86. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $22.29 billion, a P/E ratio of 59.54, a P/E/G ratio of 2.70 and a beta of 1.18.

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.