Barclays Increases PTC (PTC) Price Target to $77.00

PTC (NASDAQ:PTC) had its price target upped by equities research analysts at Barclays from $69.00 to $77.00 in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays’ target price points to a potential upside of 10.08% from the stock’s current price.

A number of other analysts have also commented on PTC. Wedbush reaffirmed an “outperform” rating and set a $57.00 price objective on shares of PTC in a research note on Thursday, October 5th. Bank of America began coverage on shares of PTC in a research note on Monday, November 6th. They set an “underperform” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. lowered shares of PTC from an “overweight” rating to a “neutral” rating and set a $68.00 price objective for the company. in a research note on Tuesday, December 12th. Royal Bank of Canada reaffirmed a “buy” rating and set a $74.00 price objective on shares of PTC in a research note on Friday, October 27th. Finally, BidaskClub raised shares of PTC from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $69.94.

PTC (PTC) traded up $3.25 during trading hours on Thursday, hitting $69.95. 3,930,047 shares of the stock traded hands, compared to its average volume of 1,144,550. PTC has a one year low of $49.12 and a one year high of $74.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $8,120.00, a price-to-earnings ratio of 291.46 and a beta of 1.34.

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

In other news, VP Staats Aaron C. Von sold 9,947 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $64.67, for a total value of $643,272.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Schechter sold 1,128 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.88, for a total transaction of $75,440.64. Following the completion of the sale, the director now directly owns 64,826 shares of the company’s stock, valued at $4,335,562.88. The disclosure for this sale can be found here. Insiders sold 55,924 shares of company stock valued at $3,627,304 over the last three months. 1.11% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in PTC by 1.8% during the second quarter. Vanguard Group Inc. now owns 9,349,753 shares of the technology company’s stock valued at $515,359,000 after acquiring an additional 161,122 shares in the last quarter. FMR LLC raised its position in PTC by 31.1% during the second quarter. FMR LLC now owns 6,753,178 shares of the technology company’s stock valued at $372,235,000 after acquiring an additional 1,602,999 shares in the last quarter. Epoch Investment Partners Inc. raised its position in PTC by 7.8% during the third quarter. Epoch Investment Partners Inc. now owns 4,657,693 shares of the technology company’s stock valued at $262,135,000 after acquiring an additional 337,109 shares in the last quarter. OZ Management LP bought a new position in PTC during the third quarter valued at approximately $187,542,000. Finally, State Street Corp raised its position in PTC by 2.1% during the second quarter. State Street Corp now owns 3,005,066 shares of the technology company’s stock valued at $165,643,000 after acquiring an additional 60,498 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.