Robert W. Baird Boosts PTC (NASDAQ:PTC) Price Target to $228.00

PTC (NASDAQ:PTC) had its target price lifted by analysts at Robert W. Baird from $226.00 to $228.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 19.21% from the stock’s previous close.

Several other research firms have also recently commented on PTC. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price target on shares of PTC in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $202.00 price target on shares of PTC in a report on Thursday, August 1st. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and cut their price target for the company from $210.00 to $196.00 in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Stock Performance

Shares of NASDAQ PTC traded down $6.78 during trading hours on Thursday, hitting $191.26. 723,350 shares of the company’s stock were exchanged, compared to its average volume of 800,463. PTC has a 1-year low of $148.01 and a 1-year high of $199.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 78.40, a PEG ratio of 2.74 and a beta of 1.17. The company’s 50-day moving average price is $179.50 and its 200-day moving average price is $178.13.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.05 by $0.11. The firm had revenue of $626.55 million during the quarter, compared to analysts’ expectations of $620.49 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. On average, sell-side analysts expect that PTC will post 3.51 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC

In other PTC news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now directly owns 44,137 shares in the company, valued at approximately $7,562,433.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC boosted its position in shares of PTC by 180.8% in the 1st quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after purchasing an additional 17,430 shares during the last quarter. Swedbank AB bought a new position in shares of PTC in the 1st quarter worth $9,849,000. US Bancorp DE boosted its position in shares of PTC by 67.7% in the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 5,717 shares during the last quarter. TD Asset Management Inc boosted its position in shares of PTC by 5.9% in the 1st quarter. TD Asset Management Inc now owns 437,643 shares of the technology company’s stock worth $82,688,000 after purchasing an additional 24,372 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in shares of PTC by 234.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 34,847 shares of the technology company’s stock worth $6,584,000 after purchasing an additional 24,415 shares during the last quarter. 95.14% of the stock is currently 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.