PTC (NASDAQ:PTC)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research note issued to investors on Wednesday, The Fly reports. They currently have a $91.00 price objective on the technology company’s stock, up from their previous price objective of $78.00. Wedbush’s target price indicates a potential upside of 14.49% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. BidaskClub raised PTC from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. Seaport Global Securities reissued a “buy” rating and set a $83.00 price target on shares of PTC in a report on Friday, January 19th. Citigroup boosted their price target on PTC to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Evercore ISI reissued a “buy” rating and set a $85.00 price target on shares of PTC in a report on Thursday, January 18th. Finally, Robert W. Baird reissued a “buy” rating and set a $68.00 price target on shares of PTC in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. PTC currently has an average rating of “Buy” and an average price target of $73.25.
PTC (PTC) opened at $79.48 on Wednesday. The firm has a market capitalization of $9,349.27, a price-to-earnings ratio of 317.92, a price-to-earnings-growth ratio of 2.88 and a beta of 1.42. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.84. PTC has a fifty-two week low of $50.68 and a fifty-two week high of $81.72.
In related news, EVP Anthony Dibona sold 5,464 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $73.97, for a total transaction of $404,172.08. Following the sale, the executive vice president now owns 36,317 shares in the company, valued at approximately $2,686,368.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Staats Aaron C. Von sold 7,500 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $73.76, for a total value of $553,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,964 shares of company stock worth $2,765,872 in the last 90 days. 1.19% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Rational Advisors LLC bought a new stake in shares of PTC in the 3rd quarter valued at about $1,888,000. Lagoda Investment Management L.P. grew its position in shares of PTC by 6.7% in the 3rd quarter. Lagoda Investment Management L.P. now owns 135,038 shares of the technology company’s stock valued at $7,600,000 after buying an additional 8,510 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of PTC in the 3rd quarter valued at about $51,958,000. State of Alaska Department of Revenue bought a new stake in shares of PTC in the 4th quarter valued at about $510,000. Finally, Sumitomo Mitsui Asset Management Company LTD grew its position in shares of PTC by 6.0% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,153,130 shares of the technology company’s stock valued at $70,075,000 after buying an additional 65,260 shares during the last quarter. Institutional investors and hedge funds own 97.98% of the company’s stock.
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.
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