PTC (NASDAQ:PTC) Price Target Raised to $228.00 at Robert W. Baird

PTC (NASDAQ:PTC - Free Report) had its target price lifted by Robert W. Baird from $226.00 to $228.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company's stock.

A number of other analysts have also recently issued reports on PTC. Rosenblatt Securities reaffirmed a "buy" rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. StockNews.com cut shares of PTC from a "buy" rating to a "hold" rating in a research report on Monday, August 5th. Piper Sandler upped their price objective on shares of PTC from $182.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday. Royal Bank of Canada restated an "outperform" rating and set a $202.00 target price on shares of PTC in a research note on Thursday, August 1st. Finally, Berenberg Bank lowered shares of 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. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, PTC presently has a consensus rating of "Moderate Buy" and an average price target of $204.83.

PTC Stock Down 4.0 %

Shares of NASDAQ:PTC traded down $7.99 during trading on Thursday, hitting $190.05. 1,677,072 shares of the company were exchanged, compared to its average volume of 804,878. PTC has a fifty-two week low of $148.01 and a fifty-two week high of $199.48. The stock has a market cap of $22.83 billion, a price-to-earnings ratio of 77.57, a P/E/G ratio of 2.74 and a beta of 1.17. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average price of $179.76 and a two-hundred day moving average price of $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 for the quarter, topping analysts' consensus estimates of $1.05 by $0.11. PTC had a net margin of 13.32% and a return on equity of 13.36%. The business had revenue of $626.55 million for the quarter, compared to the consensus estimate of $620.49 million. As a group, research analysts anticipate that PTC will post 3.51 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Janice Chaffin sold 4,000 shares of the company's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On PTC

Several hedge funds and other institutional investors have recently made changes to their positions in PTC. Intech Investment Management LLC lifted its position in shares of PTC by 180.8% during the 1st quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company's stock worth $5,115,000 after buying an additional 17,430 shares during the last quarter. Swedbank AB acquired a new stake in shares of PTC in the 1st quarter valued at approximately $9,849,000. US Bancorp DE grew its holdings in shares of PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company's stock valued at $2,559,000 after purchasing an additional 5,717 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of PTC by 5.9% during the 1st quarter. TD Asset Management Inc now owns 437,643 shares of the technology company's stock valued at $82,688,000 after purchasing an additional 24,372 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in PTC by 234.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 34,847 shares of the technology company's stock valued at $6,584,000 after purchasing an additional 24,415 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.