PTC (NASDAQ:PTC) Price Target Raised to $202.00 at Piper Sandler

PTC (NASDAQ:PTC) had its price objective raised by Piper Sandler from $182.00 to $202.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 5.43% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 price objective on shares of PTC in a research report on Thursday, August 1st. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Robert W. Baird increased their price target on PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Berenberg Bank cut 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. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, PTC presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.33.

PTC Price Performance

Shares of PTC traded down $6.44 during midday trading on Thursday, hitting $191.60. The company’s stock had a trading volume of 603,701 shares, compared to its average volume of 799,543. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC has a one year low of $148.01 and a one year high of $199.48. The stock has a market capitalization of $23.02 billion, a price-to-earnings ratio of 78.20, a price-to-earnings-growth ratio of 2.74 and a beta of 1.17. The company’s fifty day simple moving average is $179.50 and its two-hundred day simple moving average is $178.13.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.11. The business had revenue of $626.55 million for the quarter, compared to analyst estimates of $620.49 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. As a group, equities analysts expect that PTC will post 3.51 earnings per share for the current fiscal year.

Insider Activity

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 currently owned by company insiders.

Hedge Funds Weigh In On PTC

A number of hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in PTC by 0.4% during the 3rd quarter. Swiss National Bank now owns 355,400 shares of the technology company’s stock valued at $64,207,000 after purchasing an additional 1,500 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of PTC by 2.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 26,597 shares of the technology company’s stock worth $4,805,000 after buying an additional 562 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of PTC by 39.8% in the 3rd quarter. Natixis Advisors LLC now owns 69,069 shares of the technology company’s stock worth $12,478,000 after buying an additional 19,655 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in shares of PTC by 250.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 32,303 shares of the technology company’s stock worth $5,836,000 after buying an additional 23,079 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of PTC by 10.9% in the 3rd quarter. Empowered Funds LLC now owns 2,144 shares of the technology company’s stock worth $387,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds 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.