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

PTC (NASDAQ:PTC - Free Report) had its price objective hoisted by Stifel Nicolaus from $200.00 to $230.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

PTC has been the subject of several other research reports. Piper Sandler lifted their price target on PTC from $182.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Berenberg Bank cut PTC from a "buy" rating to a "hold" rating and cut their price objective for the company from $210.00 to $196.00 in a research report on Friday, November 1st. StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target on shares of PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, Rosenblatt Securities restated a "buy" rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $207.54.

PTC Stock Performance

Shares of NASDAQ PTC traded down $8.07 during trading on Wednesday, reaching $188.83. 1,091,392 shares of the company traded hands, compared to its average volume of 800,000. PTC has a 12-month low of $163.30 and a 12-month high of $203.09. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a market cap of $22.68 billion, a P/E ratio of 60.72, a PEG ratio of 2.70 and a beta of 1.16. The firm's fifty day simple moving average is $192.02 and its 200 day simple moving average is $181.59.

Insider Activity at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the transaction, the executive vice president now owns 21,707 shares of the company's stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,242 shares of company stock valued at $3,630,716. 1.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC

Several large investors have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas acquired a new position in shares of PTC during the third quarter worth $3,113,000. Franklin Resources Inc. boosted its position in shares of PTC by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company's stock worth $203,463,000 after acquiring an additional 30,525 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of PTC by 48.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,265 shares of the technology company's stock valued at $843,000 after acquiring an additional 1,397 shares during the last quarter. Toronto Dominion Bank raised its position in shares of PTC by 46.1% during the 3rd quarter. Toronto Dominion Bank now owns 59,294 shares of the technology company's stock worth $10,712,000 after acquiring an additional 18,713 shares in the last quarter. Finally, TT International Asset Management LTD acquired a new stake in shares of PTC during the 3rd quarter worth about $1,143,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

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.