Piper Sandler Forecasts Strong Price Appreciation for PTC (NASDAQ:PTC) Stock

PTC (NASDAQ:PTC) had its target price upped by Piper Sandler from $182.00 to $202.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and reduced their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Robert W. Baird increased their price objective on PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price objective on shares of PTC in a report on Thursday, August 1st. Finally, StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $204.83.

PTC Trading Up 1.5 %

PTC traded up $2.78 during mid-day trading on Thursday, hitting $192.83. 1,598,899 shares of the stock were exchanged, compared to its average volume of 808,537. 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 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. The firm’s fifty day moving average is $179.76 and its two-hundred day moving average is $178.21. PTC has a 1-year low of $148.01 and a 1-year high of $199.48.

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

Insider Buying and Selling

In other PTC news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,562,433.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.17% of the stock is currently owned by company insiders.

Institutional Trading of PTC

Hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC lifted its position in 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 acquiring an additional 17,430 shares during the period. Swedbank AB acquired a new stake in shares of PTC in the 1st quarter valued at approximately $9,849,000. US Bancorp DE lifted its holdings in shares of PTC by 67.7% in the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after buying an additional 5,717 shares during the period. TD Asset Management Inc lifted its holdings in shares of PTC by 5.9% in the 1st 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 lifted its holdings in shares of 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 buying an additional 24,415 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

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.