Royal Bank of Canada Issues Positive Forecast for PTC (NASDAQ:PTC) Stock Price

PTC (NASDAQ:PTC) had its target price raised by Royal Bank of Canada from $202.00 to $230.00 in a research report report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also recently commented on PTC. Piper Sandler increased their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Robert W. Baird raised their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and lowered their price target for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.83.

PTC Price Performance

PTC stock opened at $192.83 on Thursday. 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 has a 52 week low of $148.01 and a 52 week high of $199.48. The stock has a market capitalization of $23.17 billion, a P/E ratio of 62.00, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. The stock has a fifty day moving average of $180.03 and a 200-day moving average of $178.31.

Insiders Place Their Bets

In other news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated 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 approximately $7,562,433.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of institutional investors have recently modified their holdings of the company. Intech Investment Management LLC boosted its position in PTC by 180.8% during the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock valued at $5,115,000 after acquiring an additional 17,430 shares during the last quarter. US Bancorp DE grew its stake in PTC by 67.7% during the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 5,717 shares during the period. Swedbank AB acquired a new stake in PTC during the first quarter worth approximately $9,849,000. TD Asset Management Inc lifted its stake in PTC by 5.9% in the first quarter. TD Asset Management Inc now owns 437,643 shares of the technology company’s stock valued at $82,688,000 after buying an additional 24,372 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of PTC by 234.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 34,847 shares of the technology company’s stock worth $6,584,000 after buying an additional 24,415 shares in the last quarter. 95.14% of the stock is owned by institutional investors.

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.