PTC (NASDAQ:PTC) Stock Price Expected to Rise, Piper Sandler Analyst Says

PTC (NASDAQ:PTC - Get Free Report) had its target price lifted by investment analysts at Piper Sandler from $182.00 to $202.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the technology company's stock. Piper Sandler's price target suggests a potential upside of 6.29% from the stock's previous close.

PTC has been the subject of a number of other research reports. Rosenblatt Securities restated a "buy" rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Robert W. Baird increased their price objective on PTC from $216.00 to $226.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. StockNews.com cut PTC from a "buy" rating to a "hold" rating in a research note on Monday, August 5th. Berenberg Bank lowered shares of PTC from a "buy" rating to a "hold" rating and reduced their price target for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $202.00 price objective on shares of PTC in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PTC has an average rating of "Moderate Buy" and a consensus target price of $204.83.

PTC Trading Down 4.0 %

Shares of NASDAQ:PTC traded down $7.99 during midday trading on Thursday, reaching $190.05. The company had a trading volume of 1,677,072 shares, compared to its average volume of 804,878. The company has a fifty day simple moving average of $179.76 and a two-hundred day simple moving average of $178.21. The firm has a market cap of $22.83 billion, a price-to-earnings ratio of 77.57, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17. PTC has a 1-year low of $148.01 and a 1-year high of $199.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The technology company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.05 by $0.11. PTC had a net margin of 13.32% and a return on equity of 13.36%. The company had revenue of $626.55 million during the quarter, compared to analysts' expectations of $620.49 million. Research analysts predict that PTC will post 3.51 earnings per share for the current year.

Insiders Place Their Bets

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 stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares in the company, valued at approximately $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. Insiders own 1.17% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in shares of PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock worth $26,000 after purchasing an additional 62 shares during the period. Blue Trust Inc. increased its position in PTC by 762.5% in the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company's stock worth $26,000 after buying an additional 122 shares during the period. Rothschild Investment LLC bought a new stake in shares of PTC in the second quarter valued at approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of PTC in the second quarter worth $30,000. Finally, OFI Invest Asset Management acquired a new position in PTC during the 2nd quarter valued at $31,000. 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.