PTC (NASDAQ:PTC) PT Raised to $215.00 at Barclays

PTC (NASDAQ:PTC) had its price objective boosted by equities research analysts at Barclays from $198.00 to $215.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s target price points to a potential upside of 19.40% from the stock’s current price.

A number of other research firms have also commented on PTC. Piper Sandler upped their price target on PTC from $155.00 to $177.00 and gave the company a “neutral” rating in a research report on Tuesday, January 9th. Oppenheimer upped their target price on PTC from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Mizuho upped their target price on PTC from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Rosenblatt Securities upped their target price on PTC from $166.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. upgraded PTC from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $130.00 to $200.00 in a report on Thursday, January 4th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $196.73.

PTC Trading Down 1.2 %

NASDAQ PTC opened at $180.06 on Thursday. PTC has a 1-year low of $120.62 and a 1-year high of $194.24. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average of $183.75 and a 200-day moving average of $167.36. The firm has a market cap of $21.53 billion, a PE ratio of 91.40, a price-to-earnings-growth ratio of 3.25 and a beta of 1.17.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $550.21 million during the quarter, compared to analyst estimates of $538.59 million. PTC had a return on equity of 12.87% and a net margin of 10.86%. As a group, sell-side analysts forecast that PTC will post 3.47 EPS for the current year.

Insider Activity at PTC

In related news, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $179.59, for a total value of $238,854.70. Following the transaction, the insider now directly owns 13,864 shares of the company’s stock, valued at approximately $2,489,835.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO James E. Heppelmann sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total value of $6,203,400.00. Following the transaction, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at approximately $171,631,594.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Catherine Kniker sold 1,330 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares in the company, valued at $2,489,835.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,415 shares of company stock valued at $6,457,478. 1.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PTC

Several hedge funds and other institutional investors have recently modified their holdings of the company. Riverview Trust Co bought a new position in shares of PTC during the 1st quarter valued at $34,000. Steph & Co. bought a new position in shares of PTC during the 1st quarter valued at $174,000. Congress Asset Management Co. MA lifted its holdings in shares of PTC by 30.4% during the 1st quarter. Congress Asset Management Co. MA now owns 62,584 shares of the technology company’s stock valued at $11,825,000 after buying an additional 14,600 shares during the period. Czech National Bank lifted its holdings in shares of PTC by 1.1% during the 1st quarter. Czech National Bank now owns 21,035 shares of the technology company’s stock valued at $3,974,000 after buying an additional 223 shares during the period. Finally, Mather Group LLC. bought a new position in shares of PTC during the 1st quarter valued at $109,000. 95.14% of the stock is owned by institutional investors.

PTC Company Profile

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.