PTC Inc. (NASDAQ:PTC) Receives $199.73 Consensus Target Price from Brokerages

PTC Inc. (NASDAQ:PTC) has been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $199.73.

PTC has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Friday, April 12th. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. Mizuho reaffirmed a “neutral” rating and set a $190.00 target price (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Barclays lifted their target price on PTC from $198.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Citigroup decreased their target price on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd.

PTC Stock Up 0.2 %

Shares of PTC opened at $181.67 on Friday. The business’s 50 day moving average is $178.03 and its 200 day moving average is $178.96. The company has a market capitalization of $21.75 billion, a PE ratio of 76.01, a price-to-earnings-growth ratio of 3.42 and a beta of 1.18. PTC has a 12-month low of $134.61 and a 12-month high of $194.24. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.23. The business had revenue of $603.07 million during the quarter, compared to analysts’ expectations of $575.53 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. Research analysts expect that PTC will post 3.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Catherine Kniker sold 1,254 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now directly owns 13,598 shares in the company, valued at approximately $2,358,573.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other PTC news, insider Catherine Kniker sold 1,254 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.45, for a total transaction of $217,506.30. Following the sale, the insider now owns 13,598 shares in the company, valued at approximately $2,358,573.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael Ditullio sold 6,592 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $183.15, for a total value of $1,207,324.80. Following the sale, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The disclosure for this sale can be found here. Insiders have sold a total of 11,846 shares of company stock worth $2,137,631 in the last ninety days. 1.17% of the stock is owned by insiders.

Institutional Trading of PTC

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after buying an additional 859,227 shares during the last quarter. Wellington Management Group LLP raised its holdings in PTC by 1,409.3% in the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after purchasing an additional 1,569,081 shares during the period. Franklin Resources Inc. raised its holdings in PTC by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 1,192,272 shares of the technology company’s stock worth $208,600,000 after purchasing an additional 13,468 shares during the period. Bank of New York Mellon Corp raised its holdings in PTC by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,066,671 shares of the technology company’s stock worth $201,537,000 after purchasing an additional 166,112 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in PTC by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,037,724 shares of the technology company’s stock worth $181,560,000 after purchasing an additional 26,761 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

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.