Brokerages Set PTC Inc. (NASDAQ:PTC) Price Target at $204.83

Shares of PTC Inc. (NASDAQ:PTC) have received a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $204.83.

Several brokerages have commented on PTC. Robert W. Baird lifted their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Piper Sandler raised their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th.

PTC Stock Performance

Shares of PTC stock opened at $200.06 on Monday. The firm has a market capitalization of $24.03 billion, a P/E ratio of 64.33, a price-to-earnings-growth ratio of 2.69 and a beta of 1.17. PTC has a 12 month low of $154.73 and a 12 month high of $201.66. 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 business’s fifty day simple moving average is $186.73 and its 200 day simple moving average is $179.99.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the sale, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

Several large investors have recently made changes to their positions in PTC. State Street Corp grew its holdings in shares of PTC by 2.7% during the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after buying an additional 133,370 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of PTC by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after purchasing an additional 37,645 shares during the period. Fernbridge Capital Management LP increased its holdings in PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after buying an additional 650,990 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of PTC by 4.4% in the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock worth $206,091,000 after purchasing an additional 48,553 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in PTC by 2.9% in 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. 95.14% of the stock is currently owned by hedge funds and other 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.