PTC (NASDAQ:PTC) Given New $226.00 Price Target at Robert W. Baird

PTC (NASDAQ:PTC) had its target price boosted by equities researchers at Robert W. Baird from $216.00 to $226.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price indicates a potential upside of 22.29% from the company’s current price.

PTC has been the topic of several other research reports. Piper Sandler increased their target price on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 target price on shares of PTC in a report on Thursday, August 1st. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $201.09.

PTC Price Performance

Shares of PTC stock opened at $184.81 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. PTC has a one year low of $134.61 and a one year high of $194.24. The stock has a market capitalization of $22.12 billion, a P/E ratio of 77.33, a price-to-earnings-growth ratio of 2.73 and a beta of 1.17. The business’s 50 day simple moving average is $176.63 and its two-hundred day simple moving average is $177.59.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. PTC had a net margin of 13.32% and a return on equity of 13.36%. The business had revenue of $518.64 million during the quarter, compared to analysts’ expectations of $533.04 million. Analysts forecast that PTC will post 3.51 EPS for the current year.

Insider Activity at PTC

In other PTC news, Director Robert Schechter sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the transaction, the director now directly owns 59,616 shares in the company, valued at $10,237,855.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Robert Schechter sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the transaction, the director now directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 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 transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock valued at $1,714,010 over the last 90 days. 1.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PTC

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Stanley Laman Group Ltd. grew its position in PTC by 6.0% in the 3rd quarter. Stanley Laman Group Ltd. now owns 25,515 shares of the technology company’s stock valued at $4,610,000 after buying an additional 1,455 shares during the last quarter. Signaturefd LLC grew its position in PTC by 9.3% in the 3rd quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock valued at $162,000 after buying an additional 76 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in PTC by 5.9% in the third quarter. Sequoia Financial Advisors LLC now owns 1,461 shares of the technology company’s stock valued at $264,000 after acquiring an additional 82 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in PTC by 8.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,238 shares of the technology company’s stock valued at $1,127,000 after acquiring an additional 493 shares during the period. Finally, Blue Trust Inc. lifted its holdings in PTC by 473.9% in the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after acquiring an additional 654 shares during the period. 95.14% of the stock is currently owned by hedge funds and other 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.