PTC (NASDAQ:PTC)‘s stock had its “buy” rating reiterated by analysts at Robert W. Baird in a research report issued on Thursday. They presently have a $68.00 target price on the technology company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 7.94% from the stock’s current price.
A number of other analysts have also weighed in on PTC. BidaskClub raised shares of PTC from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Barclays upped their price target on shares of PTC from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. KeyCorp reaffirmed a “buy” rating and issued a $74.00 price target (up from $64.00) on shares of PTC in a research note on Thursday, October 26th. Evercore ISI set a $65.00 price target on shares of PTC and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, JPMorgan Chase & Co. lowered shares of PTC from an “overweight” rating to a “neutral” rating and set a $68.00 price target for the company. in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $66.31.
Shares of PTC (PTC) traded up $1.06 during trading hours on Thursday, hitting $63.00. 844,608 shares of the stock were exchanged, compared to its average volume of 903,543. The firm has a market cap of $7,320.00, a price-to-earnings ratio of 1,575.00 and a beta of 1.34. PTC has a 12 month low of $46.57 and a 12 month high of $67.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.80.
PTC announced that its board has approved a stock repurchase plan on Tuesday, September 19th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the technology company to purchase up to 7.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, EVP Anthony Dibona sold 10,929 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $65.25, for a total value of $713,117.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James E. Heppelmann sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $64.58, for a total transaction of $1,614,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,924 shares of company stock valued at $3,627,304. Company insiders own 1.11% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its position in shares of PTC by 7.4% in the 2nd quarter. Advisor Group Inc. now owns 2,711 shares of the technology company’s stock valued at $150,000 after acquiring an additional 186 shares in the last quarter. Utah Retirement Systems lifted its position in shares of PTC by 1.0% in the 2nd quarter. Utah Retirement Systems now owns 21,000 shares of the technology company’s stock valued at $1,158,000 after acquiring an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PTC by 6.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,092 shares of the technology company’s stock valued at $226,000 after acquiring an additional 247 shares in the last quarter. Commerce Bank lifted its position in shares of PTC by 5.6% in the 2nd quarter. Commerce Bank now owns 5,700 shares of the technology company’s stock valued at $314,000 after acquiring an additional 300 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of PTC by 1.3% in the 3rd quarter. Prudential Financial Inc. now owns 73,343 shares of the technology company’s stock valued at $4,128,000 after acquiring an additional 910 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.
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PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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