PTC (NASDAQ:PTC) Given New $202.00 Price Target at Piper Sandler

PTC (NASDAQ:PTC) had its price target increased by Piper Sandler from $182.00 to $202.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s target price would suggest a potential upside of 4.76% from the company’s previous close.

PTC has been the subject of a number of other research reports. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Robert W. Baird boosted their target price on PTC from $216.00 to $226.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and dropped their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. 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. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and an average target price of $204.83.

PTC Price Performance

PTC stock traded up $2.78 on Thursday, reaching $192.83. The company’s stock had a trading volume of 1,598,923 shares, compared to its average volume of 808,537. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $23.17 billion, a price-to-earnings ratio of 62.00, a PEG ratio of 2.91 and a beta of 1.17. The business’s fifty day moving average price is $180.03 and its 200 day moving average price is $178.31. PTC has a twelve month low of $148.01 and a twelve month high of $199.48.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.16 EPS for the quarter, topping 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 expect 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 PTC stock in a transaction dated 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 transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PTC

Several institutional investors and hedge funds have recently bought and sold shares of PTC. Intech Investment Management LLC raised its position in PTC by 19.8% during the third quarter. Intech Investment Management LLC now owns 25,290 shares of the technology company’s stock valued at $4,569,000 after purchasing an additional 4,177 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of PTC by 9.8% during the third quarter. Advisors Asset Management Inc. now owns 7,335 shares of the technology company’s stock valued at $1,325,000 after purchasing an additional 654 shares during the last quarter. Commerce Bank raised its holdings in PTC by 6.3% in the 3rd quarter. Commerce Bank now owns 47,404 shares of the technology company’s stock worth $8,564,000 after acquiring an additional 2,792 shares during the last quarter. Parnassus Investments LLC raised its holdings in PTC by 0.4% in the 3rd quarter. Parnassus Investments LLC now owns 99,226 shares of the technology company’s stock worth $17,926,000 after acquiring an additional 398 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in PTC in the 3rd quarter worth approximately $1,235,000. 95.14% of the stock is owned by 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.