PTC (NASDAQ:PTC) Price Target Raised to $230.00

PTC (NASDAQ:PTC) had its price target raised by Stifel Nicolaus from $200.00 to $230.00 in a research note published on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

A number of other equities research analysts also recently commented on PTC. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Piper Sandler lifted their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Finally, Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and lowered their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.54.

PTC Stock Performance

Shares of PTC stock opened at $187.58 on Wednesday. The firm’s fifty day simple moving average is $192.29 and its 200-day simple moving average is $181.73. PTC has a 12 month low of $163.30 and a 12 month high of $203.09. The stock has a market capitalization of $22.53 billion, a price-to-earnings ratio of 60.32, a PEG ratio of 2.70 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78.

Insider Buying and Selling at PTC

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the transaction, the executive vice president now directly owns 21,707 shares in the company, valued at $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the sale, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at approximately $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,242 shares of company stock valued at $3,630,716. 1.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its position in PTC by 67.7% in the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after buying an additional 5,717 shares during the last quarter. Mirabella Financial Services LLP raised its holdings in shares of PTC by 542.2% in the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after purchasing an additional 17,465 shares during the last quarter. D1 Capital Partners L.P. bought a new stake in shares of PTC in the third quarter worth $84,549,000. Citigroup Inc. boosted its holdings in PTC by 28.4% during the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock worth $26,971,000 after purchasing an additional 32,984 shares during the last quarter. Finally, KBC Group NV boosted its holdings in PTC by 2.1% during the third quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock worth $41,260,000 after purchasing an additional 4,712 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.