Analysts Set PTC Inc. (NASDAQ:PTC) Price Target at $187.15

PTC Inc. (NASDAQ:PTC) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $187.15.

A number of research firms recently weighed in on PTC. Oppenheimer dropped their price target on PTC from $210.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Tuesday. Mizuho decreased their price target on shares of PTC from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Citigroup decreased their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, May 1st.

PTC Trading Down 2.4%

PTC opened at $169.13 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC has a twelve month low of $133.38 and a twelve month high of $203.09. The stock has a market capitalization of $20.29 billion, a price-to-earnings ratio of 52.20, a P/E/G ratio of 2.27 and a beta of 1.19. The company has a 50-day simple moving average of $155.59 and a 200 day simple moving average of $173.81.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a net margin of 16.95% and a return on equity of 14.49%. PTC’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. Analysts predict that PTC will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the transaction, the executive vice president now directly owns 17,731 shares of the company’s stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Corinna Lathan sold 622 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now owns 7,604 shares of the company’s stock, valued at approximately $1,182,650.12. This represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On PTC

Institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its position in shares of PTC by 17.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company’s stock valued at $3,147,478,000 after acquiring an additional 3,048,311 shares in the last quarter. Nuveen LLC purchased a new position in PTC in the 1st quarter worth approximately $241,789,000. Pictet Asset Management Holding SA boosted its stake in PTC by 41.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company’s stock worth $445,687,000 after purchasing an additional 844,418 shares during the period. Raymond James Financial Inc. bought a new position in PTC in the 4th quarter worth approximately $146,712,000. Finally, Norges Bank purchased a new stake in PTC during the 4th quarter valued at approximately $128,852,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

About PTC

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.