Brokerages Set PTC Inc. (NASDAQ:PTC) PT at $207.54

Shares of PTC Inc. (NASDAQ:PTC) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $207.54.

Several analysts recently commented on the company. Stifel Nicolaus upped their target price on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Piper Sandler increased 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, November 7th. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and dropped their price target for the company from $210.00 to $196.00 in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target on shares of PTC in a report on Thursday, October 10th.

Insider Buying and Selling at PTC

In other news, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the transaction, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,242 shares of company stock worth $3,630,716. Insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On PTC

Several large investors have recently added to or reduced their stakes in PTC. US Bancorp DE lifted its position in PTC by 67.7% during the third 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. Mirabella Financial Services LLP lifted its holdings in shares of PTC by 542.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after acquiring an additional 17,465 shares during the last quarter. D1 Capital Partners L.P. bought a new position in shares of PTC in the 3rd quarter valued at about $84,549,000. Citigroup Inc. grew its position in PTC by 28.4% in the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock worth $26,971,000 after acquiring an additional 32,984 shares in the last quarter. Finally, KBC Group NV increased its stake in PTC by 2.1% during the third quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock worth $41,260,000 after acquiring an additional 4,712 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of NASDAQ:PTC opened at $185.91 on Friday. The firm’s fifty day moving average is $192.41 and its 200-day moving average is $182.09. PTC has a 52 week low of $163.30 and a 52 week high of $203.09. The firm has a market cap of $22.33 billion, a PE ratio of 59.78, a price-to-earnings-growth ratio of 2.70 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78.

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.