PTC (PTC) PT Raised to $75.00

PTC (NASDAQ:PTC) had its price target hoisted by equities research analysts at Robert W. Baird from $68.00 to $75.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target points to a potential upside of 12.44% from the company’s previous close.

Several other research firms also recently commented on PTC. Evercore ISI reiterated a “buy” rating and issued a $85.00 price objective on shares of PTC in a report on Thursday. Citigroup lifted their price objective on PTC to $78.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America upgraded PTC from an “underperform” rating to a “neutral” rating and set a $60.00 price objective for the company in a report on Thursday. Wedbush restated an “outperform” rating and set a $78.00 price target (up from $69.00) on shares of PTC in a research note on Thursday. Finally, Barclays boosted their price target on PTC to $77.00 and gave the company an “overweight” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $69.94.

PTC (NASDAQ PTC) traded up $1.41 during midday trading on Thursday, reaching $66.70. The company had a trading volume of 1,697,300 shares, compared to its average volume of 891,327. PTC has a 52 week low of $46.87 and a 52 week high of $67.12. The company has a market cap of $7,750.00, a P/E ratio of 1,667.50 and a beta of 1.34. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.98 and a quick ratio of 0.98.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, January 17th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. PTC had a return on equity of 8.08% and a net margin of 0.54%. The company had revenue of $306.44 million during the quarter, compared to the consensus estimate of $300.17 million. During the same period last year, the company earned $0.26 EPS. PTC’s revenue for the quarter was up 7.0% on a year-over-year basis. equities research analysts anticipate that PTC will post 0.81 EPS for the current year.

In other news, Director Robert Schechter sold 1,128 shares of PTC stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $66.88, for a total transaction of $75,440.64. Following the transaction, the director now directly owns 64,826 shares of the company’s stock, valued at approximately $4,335,562.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Staats Aaron C. Von sold 9,947 shares of PTC stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $64.67, for a total value of $643,272.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,924 shares of company stock valued at $3,627,304. Corporate insiders own 1.11% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its position in shares of PTC by 2.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 472,552 shares of the technology company’s stock valued at $28,717,000 after buying an additional 11,110 shares in the last quarter. Bank of Montreal Can lifted its position in shares of PTC by 120.4% during the 4th quarter. Bank of Montreal Can now owns 16,212 shares of the technology company’s stock valued at $985,000 after buying an additional 8,857 shares in the last quarter. AXA lifted its position in shares of PTC by 15.9% during the 3rd quarter. AXA now owns 1,161,468 shares of the technology company’s stock valued at $65,367,000 after buying an additional 159,329 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of PTC during the 3rd quarter valued at about $907,000. Finally, Vident Investment Advisory LLC lifted its position in shares of PTC by 63.4% during the 3rd quarter. Vident Investment Advisory LLC now owns 223,957 shares of the technology company’s stock valued at $12,604,000 after buying an additional 86,925 shares in the last quarter.

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PTC Company Profile

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.