PTC (NASDAQ:PTC) Price Target Raised to $216.00

PTC (NASDAQ:PTC) had its target price boosted by Robert W. Baird from $210.00 to $216.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

PTC has been the subject of a number of other reports. StockNews.com downgraded PTC from a buy rating to a hold rating in a report on Saturday, April 27th. Rosenblatt Securities reaffirmed a buy rating and issued a $195.00 price objective on shares of PTC in a research note on Friday, April 12th. KeyCorp increased their target price on shares of PTC from $190.00 to $205.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. BMO Capital Markets lifted their price target on shares of PTC from $195.00 to $200.00 and gave the company an outperform rating in a research report on Thursday, February 1st. Finally, Oppenheimer increased their price objective on shares of PTC from $190.00 to $210.00 and gave the stock an outperform rating in a research report on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, PTC has an average rating of Moderate Buy and an average target price of $200.64.

PTC Trading Up 3.0 %

Shares of NASDAQ PTC traded up $5.17 on Thursday, reaching $175.77. 1,491,232 shares of the company traded hands, compared to its average volume of 866,022. The stock has a market capitalization of $21.01 billion, a PE ratio of 73.54, a P/E/G ratio of 3.14 and a beta of 1.19. PTC has a fifty-two week low of $124.42 and a fifty-two week high of $194.24. The company has a current ratio of 1.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $183.30 and a 200 day moving average of $171.35.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The firm had revenue of $550.21 million during the quarter, compared to analyst estimates of $538.59 million. PTC had a net margin of 12.84% and a return on equity of 13.76%. On average, equities research analysts forecast that PTC will post 3.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Catherine Kniker sold 1,330 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $179.59, for a total transaction of $238,854.70. Following the completion of the sale, the insider now owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the completion of the sale, the chief executive officer now directly owns 968,357 shares in the company, valued at $171,631,594.68. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of PTC by 1,409.3% in 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 acquiring an additional 1,569,081 shares during the last quarter. Twin Focus Capital Partners LLC bought a new stake in PTC during the fourth quarter valued at $177,081,000. Vanguard Group Inc. raised its holdings in shares of PTC by 6.6% during the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after purchasing an additional 859,227 shares during the period. Norges Bank acquired a new position in shares of PTC in the 4th quarter valued at about $114,043,000. Finally, Balyasny Asset Management L.P. grew its position in shares of PTC by 173.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock valued at $95,050,000 after buying an additional 344,853 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

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.