Royal Bank of Canada Reiterates “Outperform” Rating for PTC (NASDAQ:PTC)

PTC (NASDAQ:PTCGet Free Report)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They currently have a $202.00 price objective on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 14.11% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Rosenblatt Securities upped their price objective on shares of PTC from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday. Citigroup dropped their price objective on shares of PTC from $195.00 to $187.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Robert W. Baird upped their price objective on shares of PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Barclays upped their price objective on shares of PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.18.

Get Our Latest Report on PTC

PTC Trading Down 0.5 %

Shares of PTC stock traded down $0.83 during trading on Thursday, hitting $177.02. The company’s stock had a trading volume of 487,595 shares, compared to its average volume of 830,531. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.76 and a quick ratio of 0.76. PTC has a 52 week low of $134.61 and a 52 week high of $194.24. The stock has a market cap of $21.19 billion, a price-to-earnings ratio of 74.07, a price-to-earnings-growth ratio of 3.31 and a beta of 1.18. The stock has a 50-day moving average price of $177.89 and a two-hundred day moving average price of $180.22.

PTC (NASDAQ:PTCGet Free Report) last released its earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.23. The business had revenue of $603.07 million for the quarter, compared to analyst estimates of $575.53 million. PTC had a net margin of 12.84% and a return on equity of 13.76%. Equities research analysts anticipate that PTC will post 3.48 EPS for the current fiscal year.

Insider Buying and Selling

In other PTC news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total value of $217,506.30. Following the sale, the insider now directly owns 13,598 shares in the company, valued at approximately $2,358,573.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the sale, the insider now owns 13,598 shares in the company, valued at approximately $2,358,573.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total transaction of $712,800.00. Following the sale, the director now owns 52,137 shares in the company, valued at approximately $9,290,813.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,846 shares of company stock valued at $2,854,951. Company insiders own 1.17% of the company’s stock.

Institutional Investors Weigh In On PTC

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after acquiring an additional 205,673 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after purchasing an additional 1,569,081 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of PTC by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 1,192,272 shares of the technology company’s stock valued at $208,600,000 after purchasing an additional 13,468 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of PTC by 18.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,066,671 shares of the technology company’s stock valued at $201,537,000 after purchasing an additional 166,112 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of PTC by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,037,724 shares of the technology company’s stock valued at $181,560,000 after purchasing an additional 26,761 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Company Profile

(Get Free Report)

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.

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Analyst Recommendations for PTC (NASDAQ:PTC)

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