PTC (NASDAQ:PTC) Price Target Raised to $190.00

PTC (NASDAQ:PTC) had its price objective upped by Oppenheimer from $170.00 to $190.00 in a research note released on Thursday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

PTC has been the topic of several other reports. Piper Sandler decreased their price objective on PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities restated a “buy” rating and set a $204.00 price target on shares of PTC in a report on Thursday, May 1st. BMO Capital Markets increased their price target on PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Barclays decreased their price target on PTC from $215.00 to $175.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Wall Street Zen lowered PTC from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $188.69.

PTC Stock Up 0.0%

Shares of PTC opened at $171.02 on Thursday. The stock has a market capitalization of $20.51 billion, a price-to-earnings ratio of 52.78, a price-to-earnings-growth ratio of 2.27 and a beta of 1.18. PTC has a 1 year low of $133.38 and a 1 year high of $203.09. The business’s 50 day simple moving average is $159.76 and its 200-day simple moving average is $171.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to analysts’ expectations of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. As a group, equities analysts expect that PTC will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On PTC

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in shares of PTC by 17.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company’s stock worth $3,147,478,000 after buying an additional 3,048,311 shares in the last quarter. Vanguard Group Inc. grew its position in shares of PTC by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 14,332,180 shares of the technology company’s stock worth $2,220,771,000 after buying an additional 39,688 shares in the last quarter. Geode Capital Management LLC grew its position in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company’s stock worth $555,626,000 after buying an additional 67,504 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of PTC by 41.6% during 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 buying an additional 844,418 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of PTC by 1.9% during the 1st quarter. Wellington Management Group LLP now owns 2,370,972 shares of the technology company’s stock worth $367,382,000 after buying an additional 44,961 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

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.