PTC (NASDAQ:PTC) Given New $228.00 Price Target at Robert W. Baird

PTC (NASDAQ:PTC) had its price target upped by Robert W. Baird from $226.00 to $228.00 in a report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

PTC has been the subject of several other reports. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $202.00 price objective on shares of PTC in a research report on Thursday, August 1st. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and decreased their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler lifted their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Stock Up 1.5 %

PTC traded up $2.78 on Thursday, hitting $192.83. 1,598,899 shares of the company were exchanged, compared to its average volume of 808,537. The stock’s fifty day moving average is $179.76 and its 200-day moving average is $178.21. PTC has a 12 month low of $148.01 and a 12 month 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 company has a market cap of $23.17 billion, a PE ratio of 61.97, a PEG ratio of 2.91 and a beta of 1.17.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.11. PTC had a return on equity of 14.99% and a net margin of 16.37%. The company had revenue of $626.55 million for the quarter, compared to analysts’ expectations of $620.49 million. Equities research analysts predict that PTC will post 4.47 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Janice Chaffin sold 4,000 shares of the 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 sale, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of PTC

Several large investors have recently made changes to their positions in PTC. First Horizon Advisors Inc. lifted its stake in PTC by 77.5% during 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 last quarter. Blue Trust Inc. boosted its stake in PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. Rothschild Investment LLC acquired a new stake in PTC in the second quarter valued at about $29,000. International Assets Investment Management LLC bought a new position in PTC in the second quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new position in PTC during the second quarter worth about $31,000. Institutional investors and hedge funds 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.