PTC (NASDAQ:PTC) Price Target Raised to $210.00

PTC (NASDAQ:PTC) had its price objective upped by JPMorgan Chase & Co. from $200.00 to $210.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

PTC has been the subject of several other research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Piper Sandler increased their price objective on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and decreased their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Finally, Royal Bank of Canada lifted their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.67.

PTC Stock Down 0.3 %

PTC stock opened at $199.38 on Monday. The stock’s 50 day moving average is $187.15 and its 200-day moving average is $180.07. PTC has a twelve month low of $157.72 and a twelve month high of $201.66. The firm has a market capitalization of $23.95 billion, a PE ratio of 64.11, a P/E/G ratio of 2.71 and a beta of 1.17. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38.

Insider Activity

In related news, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 6,843 shares in the company, valued at approximately $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of 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. 1.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On PTC

Hedge funds have recently made changes to their positions in the business. State Street Corp lifted its stake in shares of PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after acquiring an additional 133,370 shares during the last quarter. Geode Capital Management LLC lifted its position in PTC by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after purchasing an additional 37,645 shares during the last quarter. Fernbridge Capital Management LP boosted its stake in shares of PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares during the period. Impax Asset Management Group plc boosted its stake in shares of PTC by 4.4% during the second quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after purchasing an additional 48,553 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after purchasing an additional 30,525 shares during the last quarter. 95.14% of the stock is currently 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.