PTC Inc. (NASDAQ:PTC) Receives $204.83 Average Target Price from Brokerages

Shares of PTC Inc. (NASDAQ:PTC) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $204.83.

Several analysts have recently weighed in on the stock. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and decreased their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Robert W. Baird raised their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Piper Sandler increased their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price target on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

PTC Stock Down 0.1 %

PTC opened at $199.01 on Monday. The company has a market capitalization of $23.91 billion, a P/E ratio of 63.99, a P/E/G ratio of 2.72 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s fifty day moving average price is $185.84 and its two-hundred day moving average price is $179.71. PTC has a fifty-two week low of $153.44 and a fifty-two week high of $201.66.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares of the company’s stock, valued at $1,368,600. This trade represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. This represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Institutional Trading of PTC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in PTC by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after acquiring an additional 30,525 shares during the period. Sanctuary Advisors LLC boosted its position in shares of PTC by 48.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,265 shares of the technology company’s stock worth $843,000 after purchasing an additional 1,397 shares during the last quarter. Toronto Dominion Bank increased its holdings in PTC by 46.1% in the third quarter. Toronto Dominion Bank now owns 59,294 shares of the technology company’s stock valued at $10,712,000 after purchasing an additional 18,713 shares during the last quarter. TT International Asset Management LTD acquired a new position in PTC in the third quarter valued at about $1,143,000. Finally, Geode Capital Management LLC boosted its holdings in PTC by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock worth $533,341,000 after buying an additional 37,645 shares during the last quarter. 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.