PTC (NASDAQ:PTC) Price Target Raised to $230.00

PTC (NASDAQ:PTC - Get Free Report) had its price objective hoisted by Royal Bank of Canada from $202.00 to $230.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Royal Bank of Canada's price objective would indicate a potential upside of 21.02% from the stock's current price.

Several other equities research analysts also recently commented on the stock. StockNews.com downgraded shares of PTC from a "buy" rating to a "hold" rating in a research report on Monday, August 5th. Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday. Berenberg Bank downgraded PTC from a "buy" rating to a "hold" rating and dropped their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Robert W. Baird upped their price objective on shares of PTC from $226.00 to $228.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Five 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $204.83.

PTC Trading Down 4.0 %

Shares of PTC stock traded down $7.99 on Thursday, reaching $190.05. 1,677,072 shares of the company's stock were exchanged, compared to its average volume of 804,878. The company has a market capitalization of $22.83 billion, a P/E ratio of 77.57, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17. PTC has a 52 week low of $148.01 and a 52 week 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. The firm's 50-day moving average is $179.76 and its two-hundred day moving average is $178.21.

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

Insider Activity at PTC

In related news, Director Janice Chaffin sold 4,000 shares of the firm's stock in a transaction 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 owns 44,137 shares of the company's stock, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.17% of the stock is owned by company insiders.

Institutional Trading of PTC

Several large investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its stake 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 purchasing an additional 122 shares in the last quarter. First Horizon Advisors Inc. boosted 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 acquiring an additional 62 shares during the period. Rothschild Investment LLC purchased a new stake in PTC during the 2nd quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in PTC during the second quarter valued at $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of PTC during the second quarter valued at about $31,000. 95.14% of the stock is owned by institutional investors.

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.